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Lee Jae Myung Unveils Massive Budget to Curb Economic Slowdown

June 21, 2025, 2:18 pm

South Korean President Lee Jae Myung has announced a 30.5 trillion won (USD 22.1 billion) supplementary budget aimed at reviving the country’s struggling economy, according to the Korea Herald.

Revenue Cut and Emergency Spending

For the first time in five years, the government has revised its revenue forecast downward by 10.3 trillion won, reflecting the current economic slowdown.

President Lee said at a cabinet meeting, “Fiscal soundness and adherence to balanced budgeting are important, but the current downturn is too severe for the government to stand by. It is time to put public finances to use.”

Key Priorities: Stimulus and Fair Distribution

Lee outlined two major goals: boosting economic activity and fairly distributing the benefits. He explained, “These are also questions of values and ideology.”

The Finance Ministry revealed that 20.2 trillion won of the budget will go to new spending, with 15.2 trillion won directed toward economic stimulus and 5 trillion won toward livelihood support.

Universal Cash Payments at the Core

A key feature of the plan is a 10.3 trillion won universal cash payout. Initially, all citizens will receive 150,000 won through “spending coupons.” In the second phase, the top 10% of earners will be excluded, and the rest will get an additional 100,000 won, depending on their income level.

Boosting Construction, Startups, and Jobs

To tackle declining domestic demand, 2.7 trillion won has been allocated to support the construction sector, which has contracted for four consecutive quarters. Another 1.2 trillion won will go to startups and emerging sectors, such as AI and renewable energy.

Meanwhile, 5 trillion won will support struggling small businesses and self-employed individuals. Within this, 1.4 trillion won is set aside for debt relief, and 1.6 trillion won will strengthen the job safety net.

Budget Deficit Grows Amid Revenue Drop

As per the report, the government cut its revenue estimate from 651.6 trillion won to 642.4 trillion won, while total spending was raised from 673.3 trillion won to 702 trillion won. This change means the fiscal deficit could widen to 110.4 trillion won, pushing the deficit-to-GDP ratio up to 4.2% from the earlier estimate of 3.3%.

South Korea’s national debt could exceed 1,300 trillion won by year-end, raising the debt-to-GDP ratio to 49%.

Financing the Gap

To cover the growing deficit, the government plans to issue 19.8 trillion won in treasury bonds and make up the rest through budget restructuring and the use of reserves worth around 10 trillion won.

Despite these figures, the Finance Ministry said South Korea’s fiscal health remains sustainable by global standards.

Modest Growth Expectations

Officials estimate the new budget could boost GDP growth by 0.1 to 0.2 percentage points, potentially lifting the country into the 1% growth range. Currently, the Bank of Korea forecasts 0.8% growth, while the IMF predicts a 1% increase.

Seoul’s LGBTQ+ Community Holds Annual Festival After Liberal Leader Elected

June 14, 2025, 5:38 pm

The 26th Seoul Queer Culture Festival unfolded in the South Korean capital on Saturday with vibrant participation, boosted by the recent election of liberal President Lee Jae-myung. However, the event also faced stiff protests from conservative religious groups opposing LGBTQ+ rights.

Festival chief organiser Hwang Chae-yoo said the event’s slogan, “We never stop,” reflects the community’s enduring fight for recognition.

“During the last … administration, hate against homosexuality and LGBTQ+ became very strong, leading to government policies that often ignored LGBTQ+ people,” said Hwang. “That’s why we expressed our will to never give up until the end, and make efforts to improve human rights.”

Last year, city authorities denied multiple venue clearance requests before eventually allowing the event. This year, with a new liberal administration in place following the impeachment of conservative President Yoon Suk Yeol, organisers faced fewer hurdles.

Although President Lee Jae-myung has not explicitly addressed LGBTQ+ rights in his campaign, members of the community are cautiously optimistic. Many believe his leadership could create a more inclusive environment for LGBTQ+ individuals in South Korea, where legal protections remain limited and same-sex partnerships are still not recognised.

Large Turnout and Peaceful March of LGBTQ+

Under sunny skies and temperatures soaring to 31°C (87.8°F), a large crowd gathered in Seoul. Organisers claimed a turnout of 30,000, while police estimated around 7,000. Attendees, many waving rainbow flags, visited booths hosted by LGBTQ+ groups, foreign embassies, and university clubs.

A peaceful march began at 4:30 p.m. local time, with participants calling for better legal rights, social acceptance, and recognition for LGBTQ+ individuals in South Korea.

Among the crowd was 44-year-old participant Hong Il-pyo, dressed in drag. “It’s changed a lot compared to the old days, but most people are still like, ‘we know you exist, but don’t come out, ’” Hong said. “I hope we can make a little progress and change to ‘you exist, so let’s live well together.’”

Conservative Protest Nearby

Just blocks away, anti-LGBTQ+ demonstrators held their rally. Participants displayed blue and pink placards reading “Homosexuality Stop” and “Destroys Families.” Despite the proximity of the two events, no clashes were reported.

Trump And South Korea’s New President Lee Vow Quick Tariff Deal, Strengthen Alliance In First Call

June 6, 2025, 11:37 pm

In their initial phone call as official since the inauguration of South Korea’s new president Lee Jae-myung, US President Donald Trump and Lee concurred on seeking a quick and mutually agreeable tariff deal, as stated in a statement published by Lee’s office on Friday.

The two leaders also exchanged personal insights, campaign stories, and showed their common desire to fortify the alliance of the United States and South Korea. The call was the starting point of a significant diplomatic relationship, particularly as both nations traverse emerging trade dynamics and security issues in the Asia-Pacific region.

Trump had earlier imposed South Korea with tariffs even under a free trade pact, while pushing Seoul to raise its own financial contribution for hosting 28,500 American troops. The result of these recent negotiations is crucial for South Korea’s economy, with sectors such as semiconductors, automobiles, and shipbuilding heavily reliant on overseas markets.

Both leaders also agreed to “encourage working-level negotiations” that will produce “tangible results” on tariffs, Lee’s office said. A White House official also said Trump has invited Lee to an American summit, with both sides agreeing to sit down in person shortly.

In their exchange, the two presidents shared their personal struggles during their previous campaigns. Lee, who recovered from a knife attack last year, and Trump, who has been politically embroiled, shared that adversity is what typically defines leadership. They also connected over their shared passion for golf and had a light exchange when Lee shared that she was given a signed hat by Trump.

Lee, who was elected on June 3 after the impeachment of his conservative predecessor Yoon Suk Yeol, has been open about wanting to keep close US relations but repair China and North Korean ties as well indicating a more even-handed diplomatic strategy ahead.

South Korean President Lee Jae-myung Vows to Restore Democracy After ‘Near Demise’

June 4, 2025, 7:09 pm

South Korean President Lee Jae-myung has promised to reinvigorate the country’s economy and democracy following years of political instability. His liberal presidency is a drastic change after the former President Yoon Suk Yeol was removed from power for his martial law attempt, precipitating a nationwide outcry and forcing him out of office three years prematurely.

Lee Jae-myung now must tackle enormous challenges—fixing the democratic system, rebuilding investor confidence, dealing with US tariff pressure, and coping with strained North Korea relations. He has also vowed to seek green growth and help poor citizens and small businesses.

Lee Wins Big in Historic Snap Election

Lee Jae-myung won a clear mandate with 49.42% of close to 35 million votes. His conservative challenger, Kim Moon-soo, received 41.15%. Turnout was at its highest level since 1997. Following the verification by the National Election Commission of his victory, Lee promptly took office and wielded full presidential authority.

He met with senior military leaders to evaluate defense preparations. Lee had clambered up onto the parliament wall just months before to cast his vote against martial law—a gesture of his democratic credentials.

Democracy First, Pro-Market Policies Second

During his swearing-in address at parliament, Lee Jae-myung stated that his administration would be pro-market and pragmatic. He vowed to cut red tape and enhance innovation. He pledged that citizens’ economic suffering, particularly among middle- and low-income households, would be addressed.

Small businesspersons and disadvantaged communities can look forward to new measures of support.

Trade, Tariffs, and Negotiations with Trump

President Lee Jae-myung has to respond urgently to US tariffs from Donald Trump. They are aimed at major South Korean exports such as steel and autos. Lee has an early test—to seal an agreement with the Trump administration to ease trade imbalance. The Washington-based Center for Strategic and International Studies cautioned that Lee has to act swiftly in this regard.

Foreign Relations: Balance Over Aggression

Lee Jae-myung intends to re-establish talks with North Korea while strengthening the US alliance. Lee referred to peace without war as the ultimate type of security. Lee also indicated a less tough approach to China, referring to it as a crucial trading partner. But he pledged to stay connected to Japan and to keep South Korea’s diplomatic strategy under Yoon.

Markets React with Optimism

South Korean shares jumped on Lee Jae-myung’s first day in office. The KOSPI jumped more than 2% to a 10-month peak. Financial and clean energy shares spearheaded the rally. Shareholders approved of Lee’s emphasis on reforms and green energy.

Lee becomes president at a time of crisis. His choices in the next few weeks will set South Korea on its future course—on democracy, diplomacy, and the economy.

Lee Jae-myung’s Incredible Climb: From Rural Poverty to Presidency

June 4, 2025, 1:05 pm

South Korea voted for a new president. Lee Jae-myung from the Democratic Party won the election. His rival, Kim Moon-soo from the conservative People Power Party, accepted defeat.

This election followed the impeachment of President Yoon Suk Yeol, who tried to impose martial law. That decision caused major unrest and led to his removal from office. According to exit polls by three Korean news channels, Lee got 51.7% of the votes. Kim trailed behind with 39.3%.

From Poverty to Presidency

Lee’s life story is one of hardship and determination. He was born in 1963 in Andong, a poor village in Gyeongbuk Province. He was the fifth of seven children.

Because of financial problems, he left school early to support his family. As a teenager, he worked in several factories. At age 13, he suffered a serious accident that left one of his arms permanently damaged.

Despite the setback, Lee continued to study. In 1978, he took high school entrance exams. Later, he earned a law degree from Chung-Ang University with a full scholarship. He passed the bar exam in 1986.

He married Kim Hye-kyung in 1992, and they have two children.

Political Career and Welfare Policies

Lee began his political journey in 2005 after working as a human rights lawyer for nearly 20 years. He joined the Uri Party, which later became the Democratic Party of Korea.

Though he lost the Seongnam mayoral race in 2006, he won it in 2010 and again in 2014. As mayor, he introduced welfare programs like city-funded school uniforms.

He also served as governor of Gyeonggi Province. During the COVID-19 pandemic, he clashed with the national government over relief funds. He insisted on providing universal aid to all residents in his province.

Loved by Workers, Criticised by Elites

Lee remains a polarising figure. Many elites oppose him, but he enjoys strong support from working-class voters.

“Still, on certain issues – like addressing past wrongs [during the Japanese colonial era], welfare and corruption – he has built a loyal and passionate support base by taking a firm and uncompromising stance,” said Professor Lee Jun-han from Incheon National University.

In the 2022 presidential election, Lee ran for the top post but narrowly lost to Yoon Suk Yeol. He promised a universal basic income if elected.

Lee Pressured Yoon’s Government

After losing the 2022 election, Lee became the opposition leader. He strongly criticised Yoon’s policies and pushed for the impeachment of several government officials.

In January, Lee survived an assassination attempt. A man stabbed him in the neck while pretending to ask for an autograph. Doctors performed a two-hour surgery to repair his jugular vein, Time magazine reported.

Now, Lee campaigns behind bulletproof glass while wearing a bulletproof vest.

Legal Troubles and Controversies

Lee’s political career has faced many challenges. In 2004, he was caught drink-driving—an act frowned upon in Korea’s conservative society.

In 2018, rumours surfaced about an alleged extramarital affair. He is also fighting legal battles that could affect his presidency.

In 2023, he was charged with bribery, corruption, and breach of trust over a land deal. He also faced accusations of lying during a televised debate in the 2022 election, which violated the Public Official Election Act.

In November 2024, a court gave him a one-year suspended jail sentence. However, in March, an appeals court cleared him. Later, South Korea’s Supreme Court overturned that ruling. The next hearing will take place on June 18 at the Seoul High Court.

Presidential Immunity May Protect Him

If Lee takes office before any conviction, he may not face criminal charges. According to The Korea Times, Article 84 of the Constitution protects sitting presidents from prosecution unless the case involves insurrection or treason.

Yoon’s Downfall Helped Lee’s Rise

Lee gained momentum when Yoon declared martial law in December. Public anger grew quickly. Lee urged people online to protest the move. As pressure mounted, Yoon was impeached. That opened the door for Lee to return to the political spotlight—and eventually win the presidency.

Why Lee Jae-myung’s Presidency Begins in Crisis Mode | TDG Explainer

June 4, 2025, 10:46 am

Lee Jae-myung won the South Korean presidential election with nearly 50% of the vote. Unlike usual, he did not get a two-month transition. He took office immediately to replace former President Yoon Suk Yeol, who was impeached last December.

Yoon had tried to declare martial law, which failed. South Koreans voted strongly against this and chose Lee instead. He promised to protect democracy and unite the nation after months of unrest.

No Time to Celebrate

Lee’s victory was quick and urgent. He now has to manage a serious problem involving the United States—specifically Donald Trump. Fixing democracy may need to wait.

Trump’s Tariffs Spark Economic Fears

In April, Trump surprised South Korea by imposing 25% tariffs on all its imports. This came after earlier tariffs on steel and cars. South Koreans had believed their close ties with the U.S. and free trade agreement would protect them.

“These tariffs could trigger an economic crisis,” said Moon Chung-in, a senior advisor to Lee.

South Korea’s economy was already slowing. Political chaos worsened it. In early 2025, the economy even shrank. Voters want economic recovery more than anything else. But trade talks with the U.S. were delayed because there was no president. That delay is over.

Security Also at Risk

South Korea relies on the U.S. for defense. America promises to protect it from North Korea, even using nuclear weapons if needed. The U.S. has 28,500 troops in the country.

However, Trump has linked trade deals with military support. In April, he wrote on Truth Social, “I discussed payment for the big time military protection we provide,” calling it “beautiful and efficient one-stop shopping.”

This strategy makes South Korea vulnerable.

Evans Revere, a former U.S. diplomat in Seoul, said, “For the first time in our lifetime, we have a U.S. president who does not feel a moral and strategic obligation towards Korea.”

Will the U.S. Pull Out Troops?

Trump once threatened to remove troops from Korea unless Seoul paid more. He may do that again. South Korea can afford to pay more, but the concern now is larger.

The U.S. wants to shift its military focus to China. American defense officials say they must prepare for possible conflict over Taiwan. To do that, South Korea might be asked to take more responsibility for its own defense.

Last year, U.S. official Elbridge Colby said South Korea must take “overwhelming responsibility for its own self-defence against North Korea.”

This could mean American troops in Korea either change focus or leave. Some U.S. officials have even suggested removing thousands of troops from Korea.

Lee Wants Balance Between U.S. and China

President Lee has long been cautious about relying too much on the U.S. He wants better ties with China, South Korea’s strong neighbor and trading partner. He has also said that Korea should avoid getting involved in a China-Taiwan conflict.

“We must keep our distance from a China-Taiwan contingency. We can get along with both,” Lee said in a recent debate.

Advisor Moon Chung-in shares the same concern. “We are worried about America abandoning us,” he said, “but at the same time we are worried about being entrapped in American strategy to contain and encircle China.” He added, “If the U.S. threatens us, we can let [the forces] go.”

The Risk of a Stormy Relationship

Former U.S. diplomat Evans Revere believes this could lead to major problems. “The two leaders may find themselves on very different pages and that could be a recipe for a problematic relationship,” he warned. “If this plays out, it would undermine peace.”

Lee Jae-Myung’s Rise: Promising Economic Bounce Back And Martial Law Reckoning In South Korea

June 4, 2025, 3:39 am

South Korea began a new political era on Wednesday as liberal candidate Lee Jae-myung was formally appointed the nation’s next president, after a commanding victory in Tuesday’s high-stakes snap election. His election comes after the shocking fall of previous president Yoon Suk Yeol, whose ill-fated bid to declare martial law sent the country into political crisis.

Lee, aged 61 and previously a human rights lawyer, won 49.42% of the nearly 35 million votes for the seat, beating conservative opponent Kim Moon-soo, who took 41.15%. Voter turnout hit a record since 1997, according to the National Election Commission.

In an impassioned victory speech outside parliament, Lee characterized the election as a “judgment day” on Yoon’s failed leadership and appealed for unity to ensure no future military intervention in politics. “Our first task is to end the cycle of insurrection and see that guns are never again pointed at our people,” he stated.

Lee was quickly sworn in as president Wednesday by the National Election Commission, taking full presidential authority and the title of commander in chief. A short inauguration ceremony will be held at parliament later Wednesday.

As he assumes office, Lee is confronted by an array of economic and social issues. The nation continues to be severely polarized in the aftermath of Yoon’s ill-fated martial law declaration, which resulted in the indictment of a number of top leaders and three acting presidents. South Korea’s export-oriented economy is also suffering from the impact of mounting protectionism around the world, especially from the United States.

Lee has promised to lead the nation towards new growth by investing in technology and giving more support to low- and middle-income families. He is also likely to have a softer approach to foreign policy, particularly towards North Korea and China, while continuing diplomatic relations with Japan.

Stabbing, Scandal, And Comeback: The Untold Story Behind South Korea’s New Leader

June 4, 2025, 1:06 am

Liberal politician Lee Jae-myung of the Democratic Party won South Korea’s presidential election, a dramatic shift in the nation’s politics. The pre-emptive election came after conservative President Yoon Suk-yeol briefly declared martial law, which was met with nationwide protests and political unrest.

Lee won 51.7% of the votes, edging out conservative opponent Kim Moon-soo of the People Power Party, who conceded after receiving 39.3%. Lee’s victory is interpreted as a change of heart on the part of the people due to Yoon’s controversial leadership.

Born to poverty in a rural village, Lee’s is a rags-to-riches tale. As a teenager, he was forced to work in factories and got injured in a workplace accident, his arm never the same. Through adversity, he earned a law degree and passed the state bar exam in 1986 and eventually became a human rights lawyer.

Stepping into politics in 2005, Lee was Seongnam’s mayor and governor of Gyeonggi Province. His uncompromising attitude towards welfare and justice gained him popularity, although he is still a divisive one. He had lost the presidential election in 2022 by a slim margin beforehand.

Lee’s political career has been filled with controversy, such as legal proceedings related to a land scandal and an election debate in 2022. In November 2024, he received a suspended sentence, later revoked prior to being reinstated by the Supreme Court. His next court hearing is due on June 18. As president, he would be exempt from prosecution under Article 84 of the Constitution.

Lee’s victory comes in the wake of his courageous resistance to martial law and leadership in Yoon’s collapse. With the impending major domestic and global issues, such as economic deceleration, tension with North Korea, and evolving US foreign policy, Lee has vowed pragmatic diplomacy and governance.

South Korea Vote for President, Seek Stability After Martial Law Crisis

June 3, 2025, 12:03 pm

South Korea conducted a high-stakes presidential election on Tuesday to put behind the shock of former President Yoon Suk Yeol’s short-lived declaration of martial law. His move, announced on December 3, created a six-month political crisis, resulting in his impeachment and ouster on April 4. Citizens now wish to bring stability, alleviate sharp political polarization, and rekindle an economy that has suffered from global protectionism, particularly from the US.

South Korea’s democratic reputation was also battered, and people now yearn for a reboot. Front-runner Lee Jae-myung of the Democratic Party takes conservative Kim Moon-soo by a hair in a race defined by messages of unity, reform, and accountability.

Large Turnout Despite Crisis Fatigue

Polls opened at 6 am and will close at 8 pm with over 14,000 voting stations around the country. Enthusiasm at the beginning propelled turnout. More than a third of the 44.39 million eligible voters have already voted early. A total of 8.1 million people — about 18% of the voting population — had voted by 11 am Tuesday. Exit polls conducted by big TV networks will be announced after polling hours.

Ballots are going to be counted using machines and verified by hand. The National Election Commission will make the results official on Wednesday. The new President will be sworn in right away, as the post has been empty since Yoon was ousted.

Rival Visions for a Divided Country

Lee and Kim wrapped up their three-week campaigns with closing rallies in Seoul. Lee promised equality and support for poorer families, while Kim vowed business deregulation and fewer labour conflicts. Their economics are similar, driven by tech, but their politics are not. Lee called the election “judgment day” against Kim’s People Power Party.

He accused them of protecting Yoon Suk Yeol amid the attempt at martial law. Kim Moon-soo, Yoon’s previous labour minister, retaliated by calling Lee a “dictator” and threatening that his party would misuse legal authority.

Public yearns for Unity and Economic Relief

Voters indicate the nation needs to heal. Most blame the December crisis for exacerbating livelihoods and social trust. “The economy has deteriorated so much since December 3,” said 81-year-old Kim Kwang-ma. “We have become so divided. and I wish we could agree.” Lee had a 14-point lead in a Gallup Korea survey last week.

That lead diminished since the campaign started on May 12. In 2022, Lee was defeated by less than 1 percentage point. This time, he might receive the redemption he desires — and the mandate South Korea so badly needs.

South Korea to Hold Snap Presidential Election on June 3 After Yoon’s Removal

June 1, 2025, 4:45 pm

South Korea will conduct an early presidential election on June 3, 2025, following the impeachment and ousting of President Yoon Suk Yeol. The election is been done two years earlier than planned, after Yoon Suk Yeol’s unpopular move to declare martial law in December 2024. The move caused public wrath, parliamentary impeachment, and finally his removal by the Constitutional Court in April 2025.

According to South Korea’s constitution, a presidential election should take place within 60 days upon the vacancy of the presidency. Moving with speed, the government fixed June 3 as the date of the poll.

Why the Snap Poll Was Called?

Yoon Suk Yeol‘s administration was cut short in disarray. In December 2024, he proclaimed martial law on grounds of national security. But citizens and legislators roundly criticized the move as an authoritarian abuse of power.

By January 2025, his impeachment was approved by the National Assembly. In April, the Constitutional Court upheld it, stripping him from office permanently. The presidency was vacant, and the constitutional process for a new election was triggered.

Early Voting Sees Strong Turnout

South Korea’s National Election Commission held early voting on May 29 and May 30. More than 12 million of the country’s 44.3 million eligible voters cast their ballots over the two days. This robust turnout indicates high civic participation in the transition to democracy after months of political turmoil.

Key Contenders in the South Korea Election

There are three key contenders are in the snap election:

Lee Jae-myung, the Democratic Party. A former governor and veteran labor rights activist, he previously ran for president.

Kim Moon-soo, of the conservative People Power Party. He was a minister in previous governments.

Lee Jun-seok, leader of the new Reform Party, staking a claim as a centrist alternative.

What’s at Stake?

The result will determine South Korea’s future, both in and out of the country. Some of the important issues are relations with the United States, China, and North Korea, along with internal debates over democratic reform.

The election is a turning point for South Korean democracy—both as a referendum on public trust and as an opportunity to turn the page after a polarized presidency.

South Korea Votes in Record Numbers After Martial Law Sparks Political Crisis

May 30, 2025, 9:39 am

South Korea is seeing a historic voter turnout during its presidential election following former President Yoon Suk Yeol’s surprise declaration of martial law. The move, which was controversial in nature, resulted in his impeachment and ousting from office. In response, citizens have thronged polling stations in record numbers to uphold democratic governance.

With the nation threatened by political unrest, economic pressure, and international tensions, voters are hungry for leadership that can lead South Korea back from the edge. Liberal leader Lee Jae-myung is in the lead in opinion polls, with conservative challenger Kim Moon-soo lagging behind.

Increased Voter Turnout

On the second and last day of the early vote, lines reached long distances nationwide. By Friday at 8:00 am (2300 GMT Thursday), 21 percent of the 44.4 million registered voters had already voted. The National Election Commission had this as a record. Overseas voting also reached unprecedented levels, with 80 percent of the 1.97 million eligible Koreans abroad casting votes last week.

Commentators view this increased turnout as an evident indication of the citizenry wanting to reclaim democratic values. “The high voter turnout is a natural expression of the citizens’ strong will to return democracy,” said Kang Joo-hyun, a professor of political science at Sookmyung Women’s University.

Liberal Lee Ahead as Polls Close

Liberal candidate Lee Jae-myung is way ahead of the pack. According to a Gallup Korea survey, 49 percent of voters consider him the best candidate. His rival, Kim Moon-soo from the ousted Yoon’s People Power Party, trails behind at 35 percent.

Lee Jae-myung had earlier lost the 2022 election to Yoon Suk Yeol by one of the tightest margins in the nation’s history. His platform emphasizes justice and accountability. He promises to prosecute “insurrection elements” if he wins.

Country Still has Significant Challenges

The President next will have more than partisan fix-up on his plate. South Korea’s export-based economy is struggling with soft world demand. Domestic living costs keep increasing. The nation also boasts one of the lowest birth rates in the world.

On the international scene, the next president has to contend with escalating tensions between China—South Korea’s biggest trade partner—and the US—its security partner.

Risk of Fresh Instability Hangs Over

While most view Lee Jae-myung as a figure of democratic reclamation, not all agree his rule will put an end to the crisis. Kang Won-taek, a political scientist at Seoul National University, issued a cautionary note. “Lee has been at the centre of the polarisation that has driven much of the country’s political instability,” he said.

He said, “Unless he takes a significantly more open attitude toward governance, there’s a high likelihood that old conflicts will resurface.”

South Koreans are waiting for election day on June 3, and their message is direct: they want change, and they want back their democracy.

South Korea Votes Early Amid Democratic Turmoil, Lee Jae-Myung Leads

May 29, 2025, 12:13 pm

Early voting for the South Korea presidential election began on Thursday as the nation seeks to end months of political turmoil. This election follows last year’s suspension of civilian rule by former President Yoon Suk Yeol, which led to his impeachment. Many South Koreans view this election as a crucial step toward restoring stability.

Liberal candidate Lee Jae-myung is at the top of all the major polls, with conservatives lagging behind. Early voting has already broken previous records, highlighting a deep public interest in determining the future direction of the country.

Political Upheaval and Voter Attitudes

Since Yoon Suk Yeol declared martial law, South Koreans have been living through a period of unrest. His impeachment was facilitated by this action, which also resulted in a string of acting presidents leading the country.

The nation’s export-driven economy is currently struggling with weak domestic demand and disruptions in international trade. Voters view this election as a means to reboot and restore political normalcy in the nation.

Solid Front-Runner: Lee Jae-Myung

All key polls place Lee Jae-Myung in the lead. According to a Gallup poll conducted last week, he had 49 percent of support. He is the representative of the Democratic Party and has promised to reinstate civilian rule and prosecute those who attempted to suspend it. Lee voted early on Thursday and stated, “A vote is more powerful than a bullet.”

Behind Lee is Kim Moon-soo, a right-wing former labor minister and Yoon’s old party, the People Power Party, candidate. He has 35 percent backing, polls show. He also voted early, leaving many conservatives surprised amidst widespread fear of fraud during early voting. Kim told his supporters not to fret and vote early, labeling it as a “dramatic turnaround.”

By Thursday at noon, early voting was 8.7 percent—the highest ever at that time in a South Korean election. Foreign voters also participated enthusiastically, with four-fifths of 1.97 million eligible voters casting their ballots. Experts believe this high turnout indicates that people have an immediate desire to defend democracy following the recent crisis.

Challenges Ahead for the Next President

Whomever prevails on June 3 has enormous challenges ahead. South Korea is battling a worsening economic downturn, one of the lowest birth rates in the world, and rising living costs. The complex rivalry between China, South Korea’s biggest trading partner, and the United States, its most significant security ally, must be handled by the next president.

The early voting period suggests that the public is actively demanding change. The election will also test South Korea’s democracy’s strength and ability to move forward following a turbulent year.

South Korea’s Presidential Race Heats Up As Lee, Kim Clash In First Debate

May 19, 2025, 12:54 am

South Korea’s two top presidential candidates, Lee Jae-myung and Kim Moon-soo, traded barbs during a heated first TV debate on Sunday ahead of a snap election set for June 3. The election comes after the dramatic ouster of former President Yoon Suk-yeol in April following his ill-fated bid to declare martial law late last year that shook the country.

Lee, the opposition Democratic Party’s candidate and front-runner, justified his realistic foreign policy position in the face of accusations of being too soft on China. His rivals quoted his past remarks that South Korea need not get itself involved in China-Taiwan conflict. Lee stressed that the balance must be maintained in the relations with China and Russia while also nurturing the security relationship with the US and Japan.

He also called for a conservative method to trade talks with Washington, especially following recent US tariffs. Instead, he called for more investment in artificial intelligence, clean energy, and protection for organized workers. He called for a four-and-a-half-day workweek and a sovereign AI system open to public use, emphasizing that South Korea needs to put innovation above everything to drive its lackluster economy.

Kim, the conservative People Power Party’s candidate, emphasized creating jobs, deregulation, and a promise to spend more than 5% of the national budget on research and development. He also committed to implementing a specialized government agency aimed at simplifying regulations.

Lee, who is ahead in the polls with 51% backing against Kim’s 29%, also demanded reforms to the constitution. These are to establish a two-term presidency, a two-round election, and limiting the president’s ability to impose martial law a seeming reaction to Yoon’s move in December, when he summoned lawmakers for detention on charges of foreign subversion.

The following two debates are likely to further influence public opinion prior to a decisive election in Asia’s fourth-largest economy.

Lee Jae-Myung: From Poverty To Power, South Korea’s Underdog Eyes Presidency

April 27, 2025, 9:24 pm

A Life Shaped by Struggle

Lee Jae-myung, the newly nominated presidential candidate for South Korea’s Democratic Party (DP), is set to make an incredible political comeback just weeks before the nation’s next presidential election on June 3. Born poor in the southeastern city of Andong in 1964, Lee spent his early life struggling. His mother was a cleaner and market vendor, and Lee, as a child laborer in factories, assisted his family in staying alive. Through all these difficult times, Lee struggled on, passing his exams while working and eventually graduating with a law degree from Chung-Ang University. His life is a classic underdog story, one that he has experienced throughout his entire political life.

A Shift in Political Strategy

Contrary to his previous years of identifying with South Korea’s historical pro-labour support, Lee has in recent times embraced a more centre and right-wing leaning to resonate with a wider voter base. Famous for his tough-talking demeanor as the mayor of Seongnam and governor of Gyeonggi Province, Lee has mellowed, now positioning himself as a “pragmatic” leader committed to promoting economic growth. This political transition is designed to gain support from conservative and center-right factions and broaden his support beyond his old left-wing constituency.

Leadership and Popular Popularity

The leadership of Lee in the Democratic Party has expanded dramatically since losing the 2022 presidential race by a razor-thin margin of 0.73 percentage points to incumbent President Yoon Suk Yeol. Lee’s political power is now more formidable than ever, highlighted by his leadership role in resisting Yoon’s martial law move in the National Assembly. This moment of leadership served to further cement Lee’s reputation as a protector of democracy and increased his position within the party even further.