South Korea’s political scene just got more intense as Lee Jae-myung, the front-runner in the upcoming presidential election, officially announced his candidacy. The 61-year-old liberal politician and former leader of the Democratic Party is stepping up to take another shot at the country’s top job, vowing to tackle economic inequality and revive national growth.
Lee’s announcement comes after a turbulent period in South Korea’s leadership. The presidential election, scheduled for June 3, follows the historic impeachment of President Yoon Suk Yeol, who was removed from office after a controversial declaration of martial law in December 2024. The court upheld his impeachment in early April, opening the door for new leadership.
In a campaign video released on Thursday, Lee emphasized that fixing the country’s growing economic divide would be at the heart of his leadership. He believes that financial inequality has been fueling recent social and political unrest. His plan? Large-scale public investment in advanced technology and workforce development to reignite the economy.
But it’s not just domestic issues Lee wants to tackle. He’s also signaling a pragmatic approach to foreign relations. While conservatives have warned that his return to power could weaken South Korea’s alliance with the U.S. and strain improved ties with Japan, Lee insists the national interest will remain the top priority. “The South Korea-U.S. alliance is important, as is cooperation with Japan,” he said, “but the ultimate principle must be South Korea’s own interest.”
This strategy may be put to the test quickly, as whoever wins the presidency will need to renegotiate trade terms and tariff agreements with the U.S.—a key ally and economic partner.
Lee isn’t new to presidential campaigns. He narrowly lost to Yoon in 2022 by the smallest margin in South Korean history. However, in 2024, he led the Democratic Party to a landslide parliamentary victory, proving he still enjoys massive support, especially from liberal voters.
A recent Gallup poll shows Lee leading the pack with 34% of public support, far ahead of conservative frontrunner Kim Moon-soo, who trails at just 9%. The ruling People Power Party (PPP) has yet to announce its official candidate, with several potential contenders—like former Justice Minister Han Dong-hoon, Seoul Mayor Oh Se-hoon, and Ahn Cheol-soo—already throwing their hats into the ring.
Despite his strong polling numbers, Lee faces significant legal challenges. He is currently on trial for multiple allegations, including bribery and a high-profile $1-billion property development scandal. In March, a court overturned a guilty verdict related to election law violations, but prosecutors have appealed the decision. Whether these legal hurdles will disrupt his campaign remains uncertain.
Lee also survived an attempted assassination in January 2024, when he was stabbed in the neck during a public event. He underwent emergency surgery and returned to political life, showing resilience that his supporters admire.
As South Korea prepares for one of its most consequential elections in recent history, all eyes are on Lee Jae-myung. Will he overcome the controversies and legal risks to finally secure the presidency?
