Lee Jae Myung, Democratic Party leader and liberal lawyer and liberal lawyer, has sworn in as South Korea’s 21st president following snap elections triggered by the impeachment of Yoon Suk Yeol, his predecessor. Lee secured a staggering 49.42%, a landslide margin against his competitor Kim Moon Soo’s 41.15%. Impeached President Yoon had tried to, unsuccessfully, establish martial law in December 2024, Lee was strongly against the motion and scaled the walls of the parliament physically to vote against it. Lee’s campaign had been heavily inspired from his actions.
In his inaugural speech, Lee pledged to restore fhe democracy and heal a polarized nation that is ravaged by ‘armored vehicles and rifles’. Lee has a “pragmatic pro-market government” outlook to address economic woes. South Korea, Asia’s fourth-largest economy, faces daunting challenges: a scarred democratic psyche, rising U.S. protectionism under President Donald Trump, and strained ties with China, its largest trading partner. Lee’s economic agenda prioritizes cost of living relief for the middle and low income families and support for small businesses.
Lee’s foreign policy aims to balance relations with the US, Japan and China. He also wishes to better ties with North Korea to curb its nuclear ambitions. However, the White House is concerned about alleged Chinese interference in the ‘free and fair’ election which have been dismissed as rumours spread by Lee’s conservative opposition.
Despite his victory, Lee inherits a deeply divided nation.Lee’s past as a rags to riches journey from factory worker to lawyer has endeared him to the working class voters, but ongoing legal battles over alleged bribery and election law violations are not a good look. Many believe that voters sought to punish Yoon’s authoritarianism rather than fully endorse Lee’s agenda. The country of South Korea has been rife with political struggle and the people have slowly started losing faith in most politicians, characterized by their steeply declining birthrate.
