Conservative South Korean opposition candidate Yoon Suk-yol was elected president on Wednesday in one of the closest battles in recent history that will shape Asia’s fourth-largest economy for the next five years.
Eun, from the main opposition People Power Party, ousted Lee Jae-myung of the ruling Democratic Party with 48.6% of the vote at 47.8%, more than 98% of the ballots counted as of 4.20 a.m. (1920 GMT Wednesday) on Thursday. ,
Lee conceded defeat and congratulated his opponent.
“I tried my best, but didn’t live up to your expectations,” he said at a news conference, blaming his “shortcomings”.
“Election President, I fervently ask you to remove divisions and conflicts and open the era of integration and unity.”
Yoon had not yet given an official acceptance speech. But as he left home for campaign headquarters, he said it was a “very long night” and thanked the hundreds of supporters who had gathered in front of his house.
The unusually bitter election campaign was beset with scandals and smears, but the policy stakes are high for a country of 52 million.
Nearly 77% of South Korea’s 44 million eligible voters cast the ballot to choose the leader of a nation whose global standing is rife with gender and generational divides as it confronts North Korea.
The winner must tackle challenges including South Korea’s worst wave of COVID-19 infections, rising inequality and rising home prices while navigating an increasingly tense rivalry between China and the United States.
Voters also want the new president to root out corruption and hold talks to curb North Korea’s nuclear ambitions.
This story has been published without modification in text from a wire agency feed. Only the title has been changed.
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