The recent South Korean presidential election resulted in a significant victory for Lee Jae-myung, a seasoned center-left figure and leader of the Democratic Party of Korea (DP). His win against Kim Moon Soo from the conservative People Power Party (PPP) concludes a period of turmoil in South Korean politics, characterized by former president Yoon Suk-yeol’s brief martial law declaration and subsequent removal from office. This victory also introduces a left-leaning government with considerable power, paving the way for a potential reshaping of the nation’s internal and external policies.
Lee assumes office with a unique advantage in South Korea’s often-divided political landscape: a united government. The DP’s existing majority in the National Assembly, which extends until at least the 2028 legislative elections, grants Lee the ability to implement his policies without the obstacles that hindered his predecessor. Despite campaigning on a centrist platform to attract a wider range of voters, Lee is expected to leverage his substantial victory margin and high voter turnout to assert a strong political mandate and govern with a progressive approach.
As a populist with a background as a labor and human rights lawyer, Lee has consistently advocated for a greater role of the state in redistributing wealth and regulating South Korea’s powerful conglomerates. His recent statements—such as promises to and pursue —contrast with his past skepticism towards the private sector and seem intended to bolster business and consumer confidence, which plummeted following the political crisis initiated by Yoon. While significant structural reforms like may encounter resistance, his administration is likely to push for increased social welfare spending, higher taxes for corporations and the wealthy, and stricter oversight of large corporations.
Despite securing a clear mandate, the implementation of Lee’s policies will be delayed due to transitional logistics and initial constraints. He will assume office on June 4 under by-election regulations, but it will take several weeks to assemble his cabinet and months to begin enacting his legislative agenda. His administration is expected to unveil a detailed policy platform in mid-August, with the first proposed budget in September. In the meantime, Lee must stabilize an economy challenged by weak domestic demand, declining exports, and the imminent threat of .
U.S.-South Korea trade discussions will serve as Lee’s initial challenge. The Trump administration’s is set to expire on July 9, potentially raising U.S. tariffs from 10% to 25% unless a new trade agreement is reached. Lee has adopted a cautious stance, suggesting he might seek an extension to evaluate South Korea’s agreement in comparison to those being negotiated by Japan and other nations. Should negotiations falter or collapse, South Korea—whose second-largest export market is the U.S. after China—would face significant difficulties as Lee attempts to stimulate economic growth.
Foreign policy is another area where Lee is expected to take a different approach. While he has committed to maintaining South Korea’s core alliances, his past actions indicate a more reserved stance toward Washington and Tokyo, and a toward Pyongyang. Lee has criticized his predecessor’s diplomatic efforts with Japan as overly and expresses reservations about deepening trilateral security cooperation that more closely aligns South Korea with the U.S.-Japan alliance. A more amicable relationship with China—which Beijing is likely to —could further strain relations with Washington.
Furthermore, Lee has indicated a willingness to resume discussions with North Korea and aims to prevent Seoul from being marginalized if Donald Trump resumes his own engagement with Kim Jong-un. However, Kim’s and strengthened ties with Russia temper expectations for diplomatic progress. Nevertheless, engagement with Pyongyang remains one of the few areas where Lee and Trump might find common ground.
Following three years of divided government, institutional conflicts, and intermittent crises, South Korea is shifting towards a left-leaning direction—led by a president with the mandate, parliamentary majority, and political resolve to enact change. His presidency is poised to be the most unified and potentially transformative governing period South Korea has experienced in recent years. If Lee can successfully implement even a portion of his agenda, he will reshape the country’s political landscape and its role in the international arena for years to come.
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