Lee Jae-myung elected new South Korean president after snap elections

According to provisional results released by the National Election Commission (NEC), Lee, the candidate for the opposition Democratic Party, received more than 48 percent of the vote with over 85% of ballots counted. Kim trailed behind with 42.9%.

The vote follows a turbulent period in South Korean politics after former President Yoon Suk-yeol was impeached in April. His short-lived declaration of martial law in December triggered protests and investigations that led to his removal from office, prompting the early election.

Lee, a 61-year-old  is expected to be sworn in on Wednesday as the country’s 14th president. He will serve a single five-year term, as mandated by the South Korean constitution.

Speaking to supporters gathered outside his home in Seoul, Lee said, “It’s highly likely I will become president,” according to Al Jazeera. His supporters cheered as results pointed to his win.

Earlier in the evening, Kim conceded defeat and congratulated Lee. Local media reported that voter turnout was close to 80 percent  the highest in nearly three decades  reflecting the public’s strong interest in the vote.

Exit polls by major broadcasters KBS, MBC, and SBS had predicted a clear lead for Lee. Political analysts said Kim’s campaign was damaged by his association with the former president and his failure to unify the conservative vote. Lee Jun-seok of the New Reform Party, also in the race, later admitted defeat as well.

Lee’s victory marks a significant shift in South Korean politics and signals renewed momentum for the Democratic Party.