South Korea is set to hold a snap election on June 3, following the impeachment of President Yoon Suk Yeol in December 2024, as the country prepares for a leadership vacuum and seeks to restore political stability amidst slowing growth and an emerging global trade war.
South Korea is set to hold a snap election on June 3, following the impeachment of President Yoon Suk Yeol in December 2024. The decision comes after the Constitutional Court upheld Yoon’s removal from office over his brief and chaotic imposition of martial law.
South Korean President Yoon Suk Yeol took office on May 10, 2022.
He is a former prosecutor general and served as the chief of the Seoul Central District Prosecutors' Office from 2019 to 2021.
Yoon Suk Yeol won the presidential election with 48.6% of the vote, defeating Lee Jae-myung of the Democratic Party.
As president, he has pledged to address issues such as corruption, economic inequality, and North Korea's nuclear threat.
The law states that an election must be held to replace an ousted president within 60 days. This move aims to restore political stability to Asia‘s fourth-largest economy, which has been facing slowing growth and an emerging global trade war.
Prime Minister Han Duck-soo announced the date, stating that it would ensure ‘smooth election operations and allow sufficient time for political parties to prepare.’ The government is making preparations to ensure a fairer and more transparent election that can earn the trust of the people.
The upcoming election is likely to create an intense race between Yoon’s conservative People Power Party (PPP) and its liberal rival, the Democratic Party (DP). Both parties are expected to launch primaries in the coming weeks to select their presidential candidate.
Lee Jae-myung, the populist leader of the liberals, lost to Yoon in 2022 by a slim margin but is now a front runner. However, he faces legal challenges, including several trials over corruption and violating election law. The DP also controls the National Assembly.
Lee Jae-myung is a South Korean politician who served as the Governor of Gyeonggi Province from 2014 to 2022.
Born on June 15, 1964, he graduated from Seoul National University and began his career in politics as a member of the Democratic Party.
Lee Jae-myung gained prominence for his progressive policies, including increasing taxes on the wealthy and investing in education.
He ran for President of South Korea in the 2022 election but lost to Yoon Suk-yeol.
For the conservatives, Kim Moon-soo’s resignation from his position as labor minister has sparked interest in running for the presidency. He announced his intention to launch a campaign, citing a sense of responsibility to solve national difficulties.
Ahn Cheol-soo, a PPP lawmaker, has also declared his intention to run, claiming he is a ‘cleaner candidate’ than anyone else. He vowed to secure South Korea’s economic growth and counter US President Donald Trump‘s trade tariffs.
A poll conducted by Gallup showed that 34% of those surveyed favored Lee, while 9% backed Kim and 5% chose former PPP leader Han Dong-hoon. Several other candidates are likely to join the race as the conservatives try to overcome the political crisis.
The snap election is a critical moment for South Korea’s leadership, with the country facing significant challenges in terms of economic growth and global trade. The outcome will have far-reaching implications for the nation’s stability and direction.
