South Korean presidential race in top gear as frontrunner joins
The election of the new leader will be a crucial step in putting the export-driven nation back on track
[SEOUL] South Korea’s presidential election swung into action after the leader of the opposition party and frontrunner Lee Jae-myung indicated his intention to run in what is expected to be another tight race.
Since the Constitutional Court permanently removed former President Yoon Suk Yeol last week, several presidential hopefuls from the People Power Party have also been jostling to become the party nominee. The PPP will remain in power at least until an election for South Korea’s 14th president will be held on June 3.
The election of the new leader will be a crucial step in putting the export-driven nation back on track, after Yoon’s short-lived martial law decree sparked the country’s worst constitutional crisis in decades. The leadership vacuum created by the crisis has hindered South Korea’s ability to tackle US President Donald Trump’s tariff campaign. Acting President Han Duck-soo finally secured a direct phone call with Trump on Tuesday.
The incoming leader will face the challenge of integrating a deeply divided nation, shoring up an economy increasingly strained by the trade war and countering the rising nuclear ambitions of North Korea.
Lee, who lost narrowly to Yoon in the 2022 election, is leading in most opinion polls, with the Gallup Poll released last Friday showing 34 per cent of respondents supporting him. Lee, 60, has his own share of legal challenges after being indicted in five cases. Last month, an appeals court acquitted Lee in a case relating to election law violations.
The electorate remains sharply divided, with 35 per cent saying they back the PPP and 41 per cent supporting the Democratic Party, according to the Gallup Poll.
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From the ruling party, former Labor Minister Kim Moon-soo announced his candidacy Wednesday. He is second in the polls behind Lee, with about 9 per cent support. Kim has seen a spike in his approval ratings among Yoon supporters for his refusal to apologize over the martial law decree.
Yoon’s supporters see him as a man who has the courage to carry forward Yoon’s ideals and stand up against Lee without any compromise.
Other politicians seeking to represent PPP include – Seoul Mayor Oh Se-hoon, former party chair Hong Joon-pyo, who unsuccessfully ran in a 2017 election. Han Dong-hoon, a former justice minister, is also widely expected to run. Han’s popularity as party chief surged briefly for his swift response to oppose the martial law order. But he stepped down after supporting the opposition-led impeachment motion in December.
PPP scheduled is set to hold a primary on May 3 to pick its leader to compete against Lee and others. BLOOMBERG
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