Lee Jae-myung Set To Become South Korea’s Next President After Snap Election Victory

 

Opposition leader Lee Jae-myung is poised to become South Korea’s next president following a decisive victory in a snap election. With more than 98% of ballots counted, Lee holds a lead of over 2 million votes, prompting his main rival, Kim Moon-soo of the ruling People Power Party, to concede early Wednesday morning.

“I humbly accept the people’s decision,” Kim said in a concession speech, congratulating Lee on his win.

Lee’s triumph comes six months after South Korea was plunged into crisis when former President Yoon Suk Yeol declared martial law. The country has since experienced political instability, with a series of interim leaders and mounting public frustration.

Addressing supporters in Seoul, Lee stopped short of officially declaring victory, calling himself “the person with a very high chance to be your next president.” Still, his tone and promises to immediately tackle economic recovery and safeguard democracy carried the weight of a victory speech.

A Return to Stability

The election marks a potential turning point for a country shaken by authoritarian overreach and economic uncertainty. Voter turnout reached nearly 80%, the highest since 1997, reflecting strong public demand for change.

“This election was about holding those responsible for bringing chaos to the country accountable,” said Cho Hee-kyoung, a law professor at Hongik University.

Yoon’s declaration of martial law on December 3, followed by his impeachment and formal removal from office in April, left the nation in disarray. Lawmakers had stormed past soldiers to block the decree, marking a dramatic defense of democratic order.

Lee's Democratic Party already holds a majority in South Korea’s unicameral legislature, a political advantage that could help him push through reforms more easily than his predecessors.

From Factory Worker to President

Lee’s life story resonates with many South Koreans. Once a teenage factory worker from a poor background, he became a human rights lawyer and later served as mayor of Seongnam and governor of Gyeonggi Province. He narrowly lost the 2022 presidential election to Yoon.

In January 2024, Lee survived an assassination attempt in Busan when he was stabbed in the neck. Later, on the night martial law was declared, he gained national attention by livestreaming himself climbing over a fence to reenter the National Assembly and vote to overturn the decree.

On the campaign trail, Lee advocated reforms such as stricter limits on presidential powers, economic revitalization, and investment in small businesses and AI. He supports easing tensions with North Korea while maintaining the goal of denuclearization, and his aides emphasize human rights in future engagement with Pyongyang.

Legal Challenges and Political Controversy

Despite his win, Lee remains a polarizing figure. He faces ongoing trials related to alleged bribery and a property development scandal. In a separate case, he was convicted of making false statements during the last presidential campaign; that case is now under appeal. Lee denies all charges, claiming they are politically motivated.

His critics accuse him of deepening political divides, frequently clashing with the previous administration and blocking its budget proposals. Yoon even cited Lee’s obstructionism as part of his rationale for declaring martial law.

Foreign Policy and Economic Hurdles

Lee’s administration will face pressing diplomatic and economic challenges. His advisers say reestablishing trust with the United States will be a priority, following tensions during the martial law crisis. The alliance with Washington is expected to remain the foundation of South Korea’s foreign policy.

At the same time, Lee’s team is advocating for strategic engagement with China and Russia, recognizing their importance to regional security and economic stability. South Korea is also in active negotiations with the U.S. over tariffs imposed under Donald Trump’s presidency, which have significantly impacted Korean exports.

Lee supports continuing trilateral cooperation with the U.S. and Japan, a shift from some past progressive leaders who took a more adversarial stance toward Tokyo. His administration is expected to focus on strengthening both regional ties and domestic resilience amid global economic headwinds.

If confirmed, Lee could be inaugurated as early as Wednesday, stepping into office with a full slate of reforms and a mandate to stabilize a shaken democracy.