On June 3, 2025, Lee Jae-myung, the candidate from the Democratic Party, won the presidential elections in South Korea, marking a significant political shift.
Election Results
Lee Jae-myung secured over 49% of the vote with 99% of ballots counted, defeating his rival Kim Moon-soo from the Conservative People Power Party, who garnered 41%. Voter turnout surged to nearly 80%, the highest since 1997.
Lee Jae-myung's Political Promises
Known for his reformist stance, Lee campaigned on a platform of economic revival, judicial reform, and financial innovations. He pledged to allow South Korea's national pension fund to invest in Bitcoin and other cryptocurrencies and support the creation of Bitcoin exchange-traded funds (ETFs).
Challenges for the New President
Despite his ambitious crypto promises, Lee faces numerous challenges, including rising living costs, economic sluggishness, and complex trade negotiations with the U.S. Addressing his supporters in Seoul, he promised to focus on restoring the economy and ensuring political stability.
Lee Jae-myung's victory in the elections signals a shift in South Korean politics, where high expectations coexist with significant challenges. His presidency could usher in an important phase for both domestic policy and financial innovations in the country.
