The approaching president-elect faces a torrent of pressing issues, including healing domestic strife, navigating trade tension with the U.S., and confronting North Korea's escalating nuclear threat.
Essential insights before South Korea's impending presidential election
On March 9, the South Korean populace will cast their votes in a sudden presidential election, following the removal of former leader Yoon Suk-yeol. Yoon was booted out for his rash declaration of martial law in December, leaving a bitter aftertaste and causing public uproar.
Approximately 44 million South Koreans are expected to vote, including the 258,254 Koreans living abroad.
Six candidates are on the ballot, but former human rights lawyer Lee Jae-myung of the Democratic Party of Korea (DPK) is the frontrunner. The general consensus is that Lee stands a good chance of winning, given the disapproval of Yoon's decisions. In the recent Gallup Korea polls, Lee commanded between 46-49% support, with rival Kim Moon-soo of the conservative People Power Party trailing behind at 35-37% support.
As one of the key players behind the impeachment of Yoon, Lee has pledged to hold those responsible for the martial law decree accountable. Kim, a former labor minister under Yoon, has been fighting an uphill battle, partially due to his unwillingness to criticize the disgraced previous president.
On Tuesday, the new leader will be sworn in without a transition period and will serve for a single term of five years.
The mountainous challenges ahead
The newly elected leader will immediately grapple with issues such as mending frayed domestic unity, managing renewed trade tensions with the U.S., and addressing the growing nuclear threat from North Korea.
Although North Korea was a significant factor in previous elections, this year's campaign has been characterized by political mudslinging and escalating concerns over the fallout from Yoon's leadership. Candidates have traded insults, and personal attacks have overshadowed policy proposals.
In a televised debate last week, Lee dubbed Kim "Yoon Suk-yeol's avatar," while Kim accused Lee of being a "harbinger of monster politics and dictatorship."
Moving forward, the new leader must quickly respond to US President Donald Trump's "America First" trade policy. Trump's global tariff pause expires on July 9, which may expose South Korean exports to steep 25% duties.
Lee has criticized the outgoing administration's rush to strike a trade deal, while Kim has promised to engage with Trump directly to secure South Korea's economic interests.
Both candidates adopt cautious stances towards North Korea, with Lee expressing openness to talks but acknowledging that summit negotiations with Kim Jong-un won't happen anytime soon. Kim, on the other hand, advocates for a stronger military and a firm stance.
Related
- South Korea's Impeached President Yoon Suk-yeol Stripped of Executive Powers
- South Korea's Acting President Han Duck-soo Steps Down Amidst Speculations of Future Presidential Run
South Korea remains divisive. Yoon's supporters continue to allege election fraud and accuse Lee's faction of undermining the state. Yoon, too, has accused Lee's party of being "anti-state," aiming to obstruct his plans. If elected, Lee has promised reconciliation; however, critics fear that political retribution may follow, especially as Yoon faces trial for rebellion, a charge that carries the death penalty.
The polls open on March 9th.
Additional Insights:
- Lee Jae-myung is seen as a more moderate candidate, appealing to a broader audience, including independents and undecided voters [1].
- Kim Moon-soo, as part of Yoon's administration, might have supported similar policies aimed at navigating trade tensions with the U.S [1].
- In general, addressing North Korea's nuclear weapons program and maintaining the U.S.-South Korea alliance are key priorities for leaders facing the North Korean threat [1].
- As the president-elect, Lee Jae-myung will be faced with the immediate task of addressing the fallout from Yoon Suk-yeol's leadership, which has left a bitter aftertaste and caused public uproar.
- Migration, specifically the 258,254 Koreans living abroad, will be a factor in the upcoming election, as they are expected to vote in the March 9 election.
- The new president will need to navigate the complexities of politics and policy-and-legislation, particularly in relation to the "America First" trade policy and North Korea's nuclear threat.
- Crime-and-justice will be a concern for the new president, as Yoon faces trial for rebellion, a charge that carries the death penalty, and political retribution has been a topic of discussion if Lee Jae-myung is elected.
