South Korea Presidential Election: Opposition Candidate Lee Jae-myung Declares Victory
The South Korean presidential election was held on the 3rd, with opposition Democratic Party candidate Lee Jae-myung declaring victory early on the 4th, defeating the ruling People's Power Party's candidate Kim Moon-soo. In his victory speech, Lee pledged to end the political turmoil, prevent military coups, and work to boost the economy to ensure citizens' livelihoods.
Afterward, Kim Moon-soo also acknowledged his defeat, stating he would humbly accept the people's choice. According to South Korean media, per the Public Election Act, when a presidential election is held due to vacancy, the president's term begins immediately upon certification of the election results. The Central Election Management Committee will hold a meeting after the counting is completed to vote on the proposal to establish the president-elect based on the counting results.
