South Korea’s new leader promises democratic renewal amid economic strain

Key Information:

• Lee Jae-myung wins snap election with 49.42% of the vote, following the removal of former President Yoon Suk Yeol over a failed martial law order.
• This is the highest presidential turnout since 1997, with nearly 35 million ballots cast.
• Lee promises a pro-market approach, pledging deregulation, cost-of-living relief, and dialogue with North Korea while maintaining the U.S. alliance.
• U.S. comment on Chinese interference sparks controversy among South Korean lawmakers, following an election described as "free and fair."

South Korea’s presidential election marked a historic turning point as voters chose liberal opposition leader Lee Jae-myung to lead the country just weeks after former President Yoon Suk Yeol was ousted for attempting to impose martial law. Tuesday’s snap vote drew the highest turnout in a generation, with nearly 35 million ballots cast—a level of civic participation not seen since 1997.

According to the National Election Commission, Lee captured 49.42% of the vote, defeating conservative contender Kim Moon-soo, who secured 41.15%. Once officially certified, Lee immediately took office—skipping the customary two-month transition period—and assumed full presidential powers.

In his inaugural address, Lee issued a sobering warning about the country’s vulnerabilities in an increasingly volatile global economy. He pointed to the rise of protectionist trade policies and supply chain realignments, calling them a direct threat to South Korea’s "very survival."

He pledged to lead a "pragmatic pro-market government," vowing to ease business regulations, boost innovation, and respond to urgent economic pressures—particularly those facing low- and middle-income families and small business owners grappling with rising costs.

On the national security front, Lee reaffirmed South Korea’s longstanding military alliance with the United States, but stated that he would also pursue dialogue with North Korea to reduce tensions. "It is better to win without fighting than to win in a fight," he said, adding that "peace with no need to fight is the best security."

Shortly after taking office, Lee held a briefing with South Korea’s top military leadership and called for heightened vigilance amid ongoing threats from the North.

While U.S. Secretary of State Marco Rubio called the alliance with South Korea "ironclad," a separate comment from a White House official caused unease in Seoul. The official affirmed that the election was "free and fair," but went on to say the U.S. was "concerned and opposed to Chinese interference and influence in democracies around the world."

Though the statement made no direct reference to South Korea, lawmakers in Lee’s Democratic Party viewed it as a thinly veiled criticism, especially after a campaign season filled with accusations that Lee was aligned with Beijing.

A senior member of the foreign affairs committee responded by saying the U.S. had "misunderstood Korean society." Throughout the campaign, conservative opponents had worked to paint Lee as sympathetic to China and North Korea—a narrative that gained traction on social media and was echoed by far-right groups invoking Trump-era slogans like "Stop the Steal."

Those conspiracy theories trace back to Yoon’s presidency, during which he promoted the idea that opposition parties were under foreign control and used that claim to justify his martial law decree.

Lee took office just as the country was bracing for economic fallout from new U.S. trade penalties. Less than a day into his term, South Korean steel and aluminium exporters faced 50% tariffs—part of a broader tariff expansion announced by former President Donald Trump.

In his speech, Lee acknowledged the immediate headwinds and stressed that South Korea’s future depends on its ability to adapt to global disruptions. Later in the day, he visited the National Cemetery in Seoul, paying tribute to Korean leaders and war dead—a gesture aimed at reinforcing themes of national unity and resilience.

President Lee enters office with a full plate: healing the wounds left by a political crisis, managing North Korean provocations, and steering South Korea’s economy through global instability. His leadership will be tested not just by domestic pressures, but also by his ability to navigate a complex diplomatic landscape shaped by deepening U.S.-China rivalry.

As his administration gets underway, Lee’s promises to restore democratic norms, protect national sovereignty, and support working families will face scrutiny—both at home and on the international stage.

Sources: The Guardian, Democracy Now