SEOUL â Lee Jae-myung, who rose from childhood poverty to become South Koreaâs leading liberal politician vowing to fight inequality and corruption, will become the country's next president on Wednesday after an election that closed one of the most turbulent chapters in the young democracy.
Lee, 60, the candidate of the liberal opposition Democratic Party, is taking office for a full, single five-year term, succeeding Yoon Suk Yeol, a conservative who was felled over his stunning yet brief imposition of martial law in December.
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It was unclear whether Leeâs election would cause any major, immediate shift in South Koreaâs foreign policy. Lee, previously accused by critics of tilting toward China and North Korea and away from the U.S. and Japan, has repeatedly stressed South Korea's alliance with the U.S. as the foundation of its foreign policy.
The toughest external challenges awaiting Lee are U.S. President Donald Trumpâs tariff policy and North Koreaâs advancing nuclear program. But experts earlier said whoever becomes president can't do much to secure major progress in South Koreaâs favor on those issues.
As of 3:45 a.m. Wednesday, with over 99% of the votes counted, Lee obtained 49.3% of the votes cast in Tuesday's early election, while main conservative contender Kim Moon Soo trailed with 41.3% â a gap that was impossible to overcome mathematically.
Preelection surveys have long suggested Lee appeared headed for an easy win, riding on deep public frustration over the conservatives in the wake of Yoonâs martial law debacle.
Even before Leeâs win was formally declared, Kim conceded, telling journalists that he âhumbly accepts the peopleâs choice,â and congratulated Lee.
Earlier, Lee appeared before thousands of cheering supporters on Seoul's streets. He didn't formally claim victory, but reiterated his major policy goals, such as revitalizing the economy, promoting peace with North Korea and easing a domestic divide.
âLet us move forward with hope and make a fresh start from this moment on,â he said. âThough we may have clashed for some time, even those who did not support us are still our fellow citizens of the Republic of Korea.â
Pragmatic diplomacy
Lee, who served as governor of Gyeonggi province and mayor of Seongnam city, has been a highly divisive figure in politics for years.
As a former child laborer known for his inspirational rags-to-riches story, Lee came to fame through biting criticism of the countryâs conservative establishment and calls to build a more assertive South Korea in foreign policy. That rhetoric has given him an image as someone who can institute sweeping reforms and fix the countryâs deep-seated economic inequality and corruption.
His critics view him as a dangerous populist who relies on political division and backpedals on promises too easily.
On foreign policy, Lee has vowed to pursue pragmatic diplomacy. He has promised to develop the alliance with the U.S. and solidify a trilateral Seoul-Washington-Tokyo partnership, a stance that isn't much different from the position held by South Koreaâs conservatives.
âWeâll have to now see if the pressures of office will cause Lee Jae-myung to govern from the center â at least when it comes to matters of national security and the alliance with the United States,â said Ankit Panda, an expert with the Carnegie Endowment for International Peace.
Lee said that he would pursue better ties with North Korea, but acknowledged that it would be âvery difficultâ to hold a summit with North Korean leader Kim Jong Un anytime soon. This signals Lee won't likely initiate any drastic steps meant to improve relations with North Korea.
Experts say there arenât many diplomatic options for South Korea as it tries to address Trumpâs tariff hikes and calls for South Korea to pay more for the cost of the U.S. military presence, as well as North Koreaâs headlong pursuit of nuclear weapons. Experts say that has made both Lee and other candidates avoid unveiling ambitious foreign policy goals.
Paik Wooyeal, a professor at Seoulâs Yonsei University, said that foreign policy strategists for Lee understand there isnât much South Korea can do to bring about a denuclearization of North Korea. Paik said Lee also doesnât share the Korean nationalistic zeal held by ex-liberal President Moon Jae-in, who met Kim Jong Un three times during his 2017-22 term.
There are still hopes that diplomacy between the U.S. and North Korea could resume, with Trump repeatedly expressing his intent to reach out to Kim Jong Un. Lee has said that he would support Trump's outreach.
âSouth Korea and the United States may be better aligned on engaging North Korea under the current constellation of leadership in both countries,â Panda said. âThe two sides should begin consultations soon to ensure theyâre aligned on their goals.â
Impact of tariff hikes
Leeâs government still could become engaged in âa little bit of frictionâ with the Trump administration, said Chung Jin-young, a former dean of the Graduate School of Pan-Pacific International Studies at South Koreaâs Kyung Hee University.
Chung predicted Lee still wonât be able to pursue overly drastic steps on foreign policy and security, given the countryâs foreign exchange and financial markets are vulnerable to such changes.
Lee has preached patience over Trumpâs tariff policy, arguing it would be a mistake to rush negotiations in pursuit of an early agreement with Washington.
On Monday, South Korean trade officials held an emergency meeting to discuss a response to Trumpâs announcement that the U.S. will raise tariffs on steel and aluminum products to 50% beginning Wednesday. South Koreaâs central bank last week sharply lowered its 2025 growth outlook to 0.8%, citing the potential impact of Trumpâs tariff hikes and weak domestic demand worsened by the political turmoil of past months.
Healing domestic divide
The election serves as another defining moment in the countryâs resilient democracy, but observers worry a worsened domestic divide could pose a big political burden on the new president.
The past six months saw large crowds of people rallying to either denounce or support Yoon, while a leadership vacuum caused by Yoonâs impeachment and ensuing formal dismissal rattled the countryâs high-level diplomatic activities and financial markets.
Lee has promised to heal the national split, but his vow to thoroughly hold those involved in Yoon's martial law stunt accountable has sparked concerns that he would use investigations to launch political retaliations against his opponents.
âThe next question is just how Lee will represent and protect South Koreaâs democracy,â said Soo Kim, a former CIA Korea analyst and geopolitical risk consultant.
âWill South Koreaâs politics still remain focused on retribution, or will Seoul finally look beyond this and work constructively and progressively for the countryâs best long-term democratic interests?â she said. âItâs a tall order for Lee.â