A Historical Election for South Korea
Key points concerning South Korea's newly elected leader:
In a dramatic twist, the left opposition leader Lee Jae Myung clinched a landslide victory in South Korea's snap elections. With Lee leading with 49.4 percent of the vote, comfortably ahead of second-placed Kim Moon Soo on 41.2 percent, South Korea's future course will significantly alter, both internally and externally.
The Election's Historical Significance
Just six months ago, South Korea's young democracy was under threat. The sudden declaration of martial law by former President Yoon Suk Yeol and sending army special units to the parliament was seen as a threat to the country's liberal order. Many South Koreans feared the country was sliding back into its authoritarian past. Consequently, the early elections were not just about choosing a new leader, but also resolving the ongoing multi-month state crisis.
Meet South Korea's New President - Lee Jae Myung
Lee Jae Myung's rags-to-riches biography mirrors the rise of South Korea itself. Born into poverty, the exact date of his birth remains uncertain as his father registered him at a later date with the authorities. Officially, Lee Jae Myung is 60 years old, but most media outlets consider him to be 61. Despite his humble beginnings, Lee's strong thirst for knowledge propelled him to university, making a name for himself as a human rights lawyer. In politics, Lee is known as a left-wing outsider with sometimes radical ideas, such as advocating for a universal basic income, a concept that caused quite the stir in South Korea.
Challenges Ahead for President Lee
South Korea is more polarized than ever, with social divisions running between political camps, genders, and generations. The country also faces significant economic challenges, with the GDP shrinking in the last quarter and the export nation being vulnerable to tariffs announced by Donald Trump. Furthermore, South Korea is struggling with rapid demographic changes, having one of the lowest birth rates worldwide.
Lee's Foreign Policy Agenda
In contrast to his conservative predecessor, Lee Jae Myung seeks diplomatic rapprochement with North Korea. He also aims to improve bilateral relations with China without compromising South Korea's crucial security alliance with the United States. From a European perspective, it will be interesting to see Lee's stance on Russia, especially regarding political support for Ukraine.
The Road Ahead for South Korea
Lee Jae Myung's election victory marks a turning point for South Korea. As the new president, he faces significant domestic and international challenges, including restoring political stability, addressing social and economic pressures, managing regional security dynamics, and navigating complex foreign policy under the microscope. Lee's progressive approach, combined with a strong mandate and control of the National Assembly, offers him an unique opportunity to reshape South Korea's future and tackle the pressing issues it faces[1].
On Wednesday (local time), Lee Jae Myung will be inaugurated as the South Korean president, wielding impressive power as head of the government and commander-in-chief of the military. However, his term is limited to five years[1].
[1] South Korea’s new President Lee Jae Myung will face a set of complex domestic and international challenges, compounded by recent political turbulence and shifting regional dynamics. - S. Fred Singer, The Diplomat, March 12, 2022.
- In light of his landslide victory, President Lee Jae Myung will need to make critical decisions regarding policy-and-legislation and politics to guide South Korea through its internal and external challenges.
- As South Korea's new president, Lee Jae Myung will have to choose a stance on various war-and-conflicts, such as his approach to North Korea and Russia, while maintaining South Korea's security alliance with the United States and ensuring regional stability.
