Description: South Korea’s liberal presidential candidate Lee Jae – Myung was reported to hold a firm lead ahead of his conservative opponent Kim Moon – Soo which was close to 10 percent ahead of 03 Jun snap elections. Lee managed to garner the majority of support from voters representing the Democratic Party by pledging to bring everyone involved in the botched coup attempt, instigated by former President Yoon Suk Yeol, to justice, while also appeasing substantial deregulation and business friendly climate in South Korea. Kim failed to convince New Reform Party’s candidate Lee Jun – Seok who is considerably trailing behind the leading two, to abandon the presidential race and endorse him in order to gain the voting body necessary to reduce Lee’s lead. South Korea currently faces mounting challenges in resurrecting its economy crippled by US tariffs, faces constant threats and incursions from North Korea and aims to modify its foreign policy towards China and Japan.
Impact: South Korea’s political crisis and turmoil are showing signs of depletion as the presidential election approaches its deadline. Leading candidate Lee was the main opponent of Yoon’s failed military coup attempt and is largely expected to triumph on the back of civil distaste behind the turmoil caused by Yoon’s illegal imposition of martial law. Lee’s moderate approach towards modifying regional foreign policies towards Japan and China were also largely supported by the public as the main and direct threat to South Korea’s stability is the North Korean regime. South Korea’s presidential elections despite putting the political crisis to an end would also improve the country’s position in respect to its regional strategic allies such as the US and Japan and further enable the government to focus on integral issues such as global trade and boosting the domestic economy.