Liberal Lee Jae-myung wins South Korea’s Presidential election –

South Korea’s opposition leader Lee Jae-myung is set to become the next president following a snap election. Official results have put him well ahead of his main rival, incumbent President Kim Moon-soo, who conceded defeat this morning. Leader of the ruling conservative People Power Party, Moon accepted the defeat in a speech, congratulating Lee on his victory and saying that he humbly accepts the people’s decision. Lee’s victory comes exactly six months after the country’s previous leader declared martial law and plunged the nation into chaos. With more than 99 per cent of ballots counted, Lee commands a lead of over 2 million votes according to official results released by South Korea’s election authorities.
 
This election was closely watched and may now offer South Koreans some semblance of political stability after half a year of uncertainty and turmoil as the US ally and economic powerhouse navigated the aftermath of the martial law crisis.