The election is a significant step toward stabilizing South Korea, but the new leader will face numerous challenges both domestically and internationally.
On Tuesday, South Koreans participated in presidential elections after a period of political turmoil. The candidates are Lee Jae-myung from the centrist Democratic Party and Kim Moon-soo from the conservative People Power Party. Pre-election surveys indicated that Mr. Lee was favored to win.
Mr. Lee has committed to healing the nation's divisions and revitalizing its economy. He advocates for balanced diplomacy, aiming to improve strained relations with China and North Korea while upholding the alliance with the United States as a cornerstone of national security. Conversely, if Mr. Kim prevails, he is expected to continue the conservative foreign policy of former President Yoon Suk Yeol, which emphasized strengthening ties with Washington and Tokyo, potentially at the expense of relations with Pyongyang and Beijing.
Voting commenced at 6 a.m. and concluded at 8 p.m. Results from a joint exit poll conducted by the country’s three main broadcasters will be released shortly after the polls close, with enough votes expected to be counted by early Wednesday to determine the winner, according to polling experts.
The political unrest in South Korea escalated when Mr. Yoon, whose popularity waned during his three-year term, attempted to seize the opposition-controlled National Assembly through military force during a brief martial law in December. Following his impeachment by the Assembly, he was formally ousted by the Constitutional Court in April, paving the way for the election.
This election has largely been viewed as a referendum on Mr. Yoon and the People Power Party, which supported his presidency. "This election is about judging the previous government," stated Heo Jinjae, a research director at Gallup Korea. "The martial law and the impeachment were such dominant issues that most other issues didn’t rise to the surface."
Since Mr. Yoon’s impeachment, South Korea has been governed by a series of unelected acting presidents. Electing a new leader through popular vote is a crucial move toward restoring stability. However, the incoming president will inherit a nation in crisis.
South Korea's export-driven economy has nearly stalled, which could worsen under the steep tariffs imposed by the United States. The new leader will need to repair relations with China, South Korea's largest trading partner, to boost exports and economic growth, even as the U.S. demands South Korea's assistance in containing China.
Political polarization in South Korea has intensified, with all candidates calling for "national unity" while acknowledging that this division is one of the country's most significant challenges. During the campaign, candidates resorted to inciting fear and indignation against one another; Mr. Lee accused Mr. Yoon and the People Power Party of "insurrection," while Mr. Kim warned that a victory for Mr. Lee would result in a "dictatorship" created by the Democratic Party's parliamentary majority.