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South Korea Presidential Election: Lee Jae-myung Wins! Why Did Some Students Support Him?

South Korea Presidential Election: Lee Jae-myung Wins! Why Did Some Students Support Him?

After enduring a half-year political crisis, South Korea held its presidential election on the 3rd, with Lee Jae-myung, the candidate from the largest opposition party, the Democratic Party, winning the position. Why do some students in Seoul, even when dissatisfied, choose to vote for him?

The economic growth rate of South Korea is projected to struggle due to Trump's tariffs. The newly elected president faces significant challenges ahead. According to Bloomberg, the accuracy of this exit poll is closely monitored, as Lee Jae-myung previously lost by a margin of less than 1% in the 2022 presidential election, setting a record for the smallest margin in Korean election history. In this election, he has consistently led in most opinion polls.

This time, voter turnout also indicates a heightened public interest, reaching 77.8% an hour before voting ended, surpassing the record set in the 2022 election, demonstrating voters' eagerness to respond to the constitutional crisis and economic difficulties through their ballots.

This election is seen as a turning point after decades of severe constitutional crisis triggered by former President Yoon Suk-yeol's attempt to impose martial law. The new president will immediately face pressure to restore economic growth. The start of 2023 saw South Korea's economy shrink, further threatened by Trump's tariff policies.

Park Chan-day, acting leader of the Democratic Party, stated that the Korean people have judged the regime that incited rebellion. On the other hand, the spokesperson for the People Power Party expressed hoarsely, seemingly accepting the truth of defeat. He noted the exit poll results were below expectations and lamented that the party failed to adequately convey the candidate's strengths before the vote.

Bloomberg analyzes that if Lee Jae-myung ultimately succeeds, South Korea's economic, diplomatic, and energy policy routes will change. Lee, a former labor lawyer, has a progressive political stance, advocating for expanded government spending, strengthened labor protection, and limiting chaebol power. In terms of diplomacy, although both Lee and Kim Moon-soo have indicated they will continue trilateral cooperation with the U.S. and Japan, Lee leans towards a more balanced approach in handling relations with both the U.S. and China, supporting the possibility of dialogue with North Korea.

Moreover, Lee has criticized the interim government for hastening trade negotiations with the U.S., arguing for a more cautious approach. Meanwhile, Kim Moon-soo, also from the labor movement, has promoted deregulation, supporting small and medium enterprises, lowering taxes, and endorsing a two-term presidency. In contrast, he has shown clearer support for nuclear energy development compared to Lee Jae-myung.

Many university students, while acknowledging imperfections, express their desire for genuine leadership. One 22-year-old student remarked, "Korean politics has long been dominated by struggles between two major parties, making it feel as if the entire system is on the verge of collapse! I hope the parties can step out of their conflicts to work together for the future of the nation."