South Koreans are set to finally choose a new president after the nation’s worst constitutional crisis in decades.
The Jun 3 election to replace ousted conservative leader Yoon Suk Yeol offers to be a potential turning point that either brings stability to the political realm and markets after months of chaos or deepens painful divisions within the nation.
The leadership vacuum since the end of last year has battered confidence among consumers and businesses, helping to push the economy into reverse just as United States President Donald Trump’s trade tariffs cast a shadow over future growth.
Why is there an election now?
The snap vote was called after Yoon was removed from power on Apr 4 for violating the constitution, less than three years after he became president. Under South Korean law, an election has to be called within 60 days of the removal of a president.
Yoon shocked the world in December by declaring martial law for the first time since the launch of full democracy in the nation about 40 years ago. His decree, partly aimed at overcoming a political stalemate in the opposition-controlled parliament, was quickly overturned by lawmakers, who then impeached him.
Who are the major candidates?
South Koreans vote for one candidate, with the winner serving a single, five-year term. Voting is not compulsory.
The two main candidates vying to become president are left-leaning Lee Jae-myung, former head of the main opposition Democratic Party, and right-winger Kim Moon-soo of the People Power Party (PPP). While their political careers have taken them in different directions, both are former labour activists. Kim was imprisoned for leading a pro-democracy movement in the 1980s when South Korea still had military rule.
Source: CNA
