ICYMI. Conservative South Korean opposition candidate Yoon Suk-yeol rode to victory in the country’s tight presidential election on a wave of discontent over economic policy, scandals, and gender wars, reshaping the political future of the country.
SEOUL, South Korea – Conservative South Korean opposition candidate Yoon Suk-yeol rode to victory in a tight presidential election on a wave of discontent over economic policy, scandals, and gender wars, reshaping the political future of Asia’s fourth-largest economy.
“The people put me here with hope in my conviction that I have not yielded to any power for fairness and justice for 26 years,” Yoon said in a speech of his career as a prosecutor. “Real estate prices, housing policy, jobs, and tax policies will top his domestic agenda,” said Duyeon Kim, a Seoul-based expert with the Center for a New American Security.
The benchmark KOSPI .KS11 rose more than 2%, its sharpest daily rise in at least three months, with Yoon expected to speed deregulation in South Korea’s capital markets. Yoon has vowed to forge even closer ties with the United States – South Korea’s only treaty ally – in the face of increased missile activity by North Korea and competition with China, which is the South’s largest trading partner.
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