ISLAMABAD (PEN) : South Korea’s newly elected President Lee Jae-myung pledged on Wednesday to restore democracy and stabilize the economy, following a turbulent period marked by political unrest and economic challenges. Lee’s inauguration comes after a decisive win in a snap election that ended the controversial presidency of *Yoon Suk Yeol*.
Lee Promises Democratic Renewal and Economic Reform
In his *inaugural address at the National Assembly*, Lee vowed to steer South Korea out of what he described as a “near demise” of democracy, referring to a failed attempt at martial law under the previous administration.
“A Lee Jae-myung government will be a pragmatic pro-market government,” he stated, emphasizing deregulation and support for innovation. He also committed to addressing cost-of-living issues affecting low- and middle-income families, as well as challenges faced by small businesses.
Prioritizing Diplomacy and Security
Lee promised to revive stalled dialogue with *North Korea* while reinforcing the nation’s longstanding alliance with the United States.
“It is better to win without fighting than to win in a fight, and peace with no need to fight is the best security,” Lee said, underlining his diplomatic approach to managing inter-Korean tensions.
While advocating for balanced foreign relations, Lee also stressed the importance of China as a key trading partner, signaling a softer stance on regional disputes, including tensions in the *Taiwan Strait. However, he maintained that the **U.S.-South Korea alliance* remains the cornerstone of Seoul’s foreign policy.
Electoral Mandate and Market Response
Lee secured 49.42% of the nearly 35 million votes cast, defeating conservative opponent *Kim Moon-soo, who garnered 41.15%. The election saw the **highest voter turnout since 1997*, underscoring the nation’s desire for political change.
South Korean financial markets responded positively to Lee’s victory, with the benchmark stock index rising over 2%, buoyed by expectations of **market-friendly reforms. Renewable energy stocks also gained, aligned with Lee’s promise to transition toward **greener energy solutions*.
Trade Pressures and U.S. Relations
Among Lee’s most urgent tasks is addressing trade friction with the United States. His administration must navigate looming tariff negotiations initiated by *U.S. President Donald Trump*, particularly concerning the steel and automotive sectors.
“President Lee will find himself with little to no time to spare before tackling the most important task of his early presidency: reaching a deal with Trump,” noted the *Center for Strategic and International Studies* in Washington.
U.S. Secretary of State Marco Rubio* congratulated Lee and reaffirmed the nations’ “ironclad commitment” to their alliance. A White House official described the election as “free and fair,” while expressing continued concern over *foreign influence, particularly from **China*, in democratic systems.
Immediate Assumption of Office
Lee assumed presidential duties immediately after confirmation by the *National Election Commission*, including a briefing with top military leaders on national defense readiness.
The inauguration marked a dramatic shift for the 36-year-old politician, who just six months earlier had famously scaled the parliament wall to block a martial law decree during a constitutional standoff.
As Lee begins his term, his government faces the challenge of reconciling a politically divided nation, stabilizing economic volatility, and navigating complex diplomatic waters with global powers.
