His main rival was the ruling party candidate and a former member of Yoon’s cabinet, Kim Moon-soo.

He had been trailing Lee for weeks in polls and in the early hours of Wednesday, he conceded defeat, congratulating Lee “on his victory”.

In an earlier speech, Lee had hinted at the win but stopped short of declaring it. He said “recovering” South Korea’s democracy would be his first priority.

The snap election comes just three years after the 61-year-old lost his last presidential bid by a razor-thin margin to Yoon.

It’s a remarkable comeback for a man who has been caught in several political scandals, from investigations over alleged corruption to family feuds.

Analysts say Lee’s win is also a rejection of the ruling People Power Party (PPP), which was tarred by Yoon’s martial law order.

“Voters weren’t necessarily expressing strong support for Lee’s agenda, rather they were responding to what they saw as a breakdown of democracy,” Park Sung-min, president of Min Consulting, told the BBC.

“The election became a vehicle for expressing outrage… [and] was a clear rebuke of the ruling party, which had been complicit in or directly responsible for the martial law measures.”

Lee’s win, he adds, shows that voters had put South Korea’s democracy “above all else”.

South Korea’s new liberal president, Lee Jae-myung, promised in his inauguration speech on Wednesday, the 4th of June, to “unite the nation”, lift the country out of near-total ruin caused by an attempted declaration of martial law, and revive the economy, which is surrounded by global protectionism that threatens its very existence, according to the British broadcaster BBC and Reuters.

Lee will take office at a time when the country remains deeply divided, a situation that was further exacerbated after President Yoon Suk-yeol declared martial law in December last year and subsequently left office.

“I will start with economic recovery and national healing,” he told the National Assembly. “Regardless of who you supported in this election… I will be the president of all the people.”

He blamed the country’s political turmoil on “political factions unwilling to work for the good of the people”.

“I will work to unite the people,” he said, adding that he would “become a president who will end divisive politics”.

However, he will have to tackle not only domestic issues, but also urgent foreign policy challenges.

Lee also promised to form a “flexible, pragmatic, market-oriented government” and announced that an emergency economic task force would be “activated immediately”.

He promised deregulation to promote innovation and business growth and pledged to resume dialogue with North Korea while maintaining a strong security alliance with the US and ensuring diplomatic balance.

After all votes were counted, Lee won 49.42% of the nearly 35 million votes cast, while his conservative rival Kim Moon-soo won 41.15% of the vote, the highest turnout in a presidential election since 1997, according to official figures.

Lee has said that when he takes office, he will first focus on solving urgent economic problems, paying attention to the high cost of living affecting middle- and low-income families, as well as the difficulties faced by small business owners.

He also has to deal with the White House’s deadline for negotiations on import duties, which Washington blames for the large trade imbalance between the two countries.

Also read: South Korean President declares martial law and then lifts it

Also read: South Korean President Yoon removed from office, elections expected

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Yoo Gi-won, another Lee supporter, said that “Yoon’s presidency made me feel like the country is going to be ruined. I saw everyone around me suffering”.

“For a while South Korea has been cold place [but now] I’m so, so happy,” he added.

But as the fanfare fades, Lee will be left facing a daunting reality.

For one, he is still facing a trial in the Supreme Court over charges of violating election laws. The court postponed the trial until after the election to avoid interference, as a conviction could have barred Lee from contesting.

It’s not clear what happens if Lee is now found guilty, though the law says sitting presidents cannot be prosecuted for criminal offences, with the exception of insurrection or treason.

Greater still is his challenge of bringing together a nation that is still racked by deep anger and division.

“Years of escalating polarisation under both the [previous] Moon and Yoon administrations have left South Korea’s political landscape bitterly divided,” Mr Park said.

“Lee may speak of national unity, but he faces a profound dilemma: how to pursue accountability for what many view as an attempted insurrection without deepening the very divisions he seeks to heal.”

Despite the PPP’s loss, ex-President Yoon still has a considerably strong and vocal support base – and it is unlikely to go away anytime soon.

His supporters, mainly young male voters and the elderly, often push strong right-wing narratives, and many of them believe his declaration of martial law was necessary to protect the country.

Many also peddle conspiracy theories, believing Yoon’s party was a victim of election fraud.

With Yoon gone, there are questions about who might fill the vacuum for this predominantly young, male base.

One name in particular has emerged: Lee Jun Seok, who also ran for president, but dropped out earlier on Tuesday when exit polls suggested he was trailing too far behind.

He has been especially popular with many young men for his anti-feminist views, which has reminded some of Yoon, under whom equality for women became a polarising subject.

Young men in their 30s came out in higher numbers than usual to vote this time, drawn in part by candidates like Lee Jun-seok.

Those wanting to hold the PPP-led government accountable, as well as others wanting to ensure Lee Jae-myung’s presidency was dashed, led to this year’s voter turnout reaching 79.4% – the highest since 1997.

And so it is in this political climate that Lee takes over – hoping to transform public fury into hope.

How – and if – he might do that, is a question that will be closely watched.

Additional reporting by Woongbee Lee, Richard Kim and Haeryun Kang

The following is the first summary of major stories moved by Yonhap News Agency on Wednesday.

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■ (LEAD) Lee vows to unite nation, revitalize slowing economy

SEOUL — President Lee Jae-myung was sworn in office Wednesday, pledging to unite a divided nation, revitalize the economy and pursue pragmatic diplomacy based on national interests.

Lee began his five-year term without a transition period earlier in the day as he won a snap election following the impeachment of former President Yoon Suk Yeol over his failed martial law bid in December.

https://en.yna.co.kr/view/AEN20250604005351315

President Lee Jae-myung takes the oath of office during a ceremony at the National Assembly in Seoul on June 4, 2025. (Pool photo) (Yonhap)

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■ (LEAD) White House affirms ‘ironclad’ alliance after Lee’s win, voices concerns over Chinese influence

WASHINGTON — A White House official on Tuesday affirmed the “ironclad” nature of the South Korea-U.S. alliance while expressing concerns over “Chinese interference and influence in democracies” after Democratic Party presidential candidate Lee Jae-myung was elected South Korea’s president.

The remarks came as Lee of the liberal party has stressed the alliance with the United States as the “foundation” of his “pragmatic” foreign policy while pledging to “stably” manage relations with China in the midst of an escalating Sino-U.S. rivalry.

https://en.yna.co.kr/view/AEN20250604002251315?section=national/diplomacy

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■ (LEAD) Lee to name his top campaign aide as prime minister: sources

SEOUL — President Lee Jae-myung is expected to tap Kim Min-seok, a Democratic Party (DP) lawmaker and top campaign aide, as his prime minister, sources said Wednesday.

Kim is a former student activist turned four-term lawmaker and played a key role in Lee’s presidential campaign. The senior member of the DP’s Supreme Council served as a co-chair of Lee’s election team.

https://en.yna.co.kr/view/AEN20250604000451315?section=national/politics

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■ Lee calls for ‘watertight’ military readiness in phone talks with JCS chairman

SEOUL — President Lee Jae-myung on Wednesday called for “watertight” military readiness in his first phone talks with South Korea’s military chief, shortly after assuming his role as commander-in-chief.

During the phone talks, Lee received a security briefing from Joint Chiefs of Staff (JCS) Chairman Adm. Kim Myung-soo on North Korea’s military activities and the readiness posture of South Korea’s armed forces. The briefing took place approximately two hours after Lee formally began his five-year term.

https://en.yna.co.kr/view/AEN20250604004100315?section=national/defense

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■ Lee expected to hold phone call with Trump as early as inauguration day

SEOUL — President Lee Jae-myung is expected to hold a phone call with U.S. President Donald Trump as early as his inauguration day on Wednesday, according to diplomatic sources.

The two governments are currently arranging for their leaders to speak by phone as early as late Wednesday afternoon (Korean time), the sources said.

https://en.yna.co.kr/view/AEN20250604005500315?section=national/diplomacy

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■(News Focus) Lee faces tariffs, burden-sharing, other headwinds for S. Korea-U.S. alliance

WASHINGTON — With little time to bask in his triumph, South Korean President-elect Lee Jae-myung faces the daunting task of reinforcing the Seoul-Washington alliance amid President Donald Trump’s calls for “reciprocal” trade, greater defense burden-sharing and alignment on deterring China.

Wading into the rough waters of geopolitics, Lee is bound to navigate multiple headwinds for the alliance at a time when South Korea’s place in Trump’s policy agenda has appeared shaky in the wake of ousted former President Yoon Suk Yeol’s martial law debacle in December.

https://en.yna.co.kr/view/AEN20250603002600315?section=national/diplomacy

(END)

(ATTN: ADDS details, background in paras 12-15)

By Kim Eun-jung

SEOUL, June 4 (Yonhap) — President Lee Jae-myung was sworn into office Wednesday, pledging to unite a divided nation, revitalize the economy and pursue pragmatic diplomacy based on national interests.

Lee began his five-year term without a transition period earlier in the day as he won a snap election following the impeachment of former President Yoon Suk Yeol over his failed martial law bid in December.

“No matter whom you supported in this election, I will serve as a president for all to embrace and serve every citizen,” Lee said in his inaugural address during a scaled-down ceremony held at the National Assembly.

President Lee Jae-myung takes the oath of office during a ceremony at the National Assembly in Seoul on June 4, 2025. (Pool photo) (Yonhap)

Lee vowed to unite a deeply fractured country over Yoon’s martial law and subsequent impeachment and ouster.

“It is time to restore security and peace, which have been reduced to tools of political strife; to rebuild livelihoods and the economy damaged by indifference, incompetence and irresponsibility; and to revive democracy undermined by armored vehicles and automatic rifles,” he said.

On the economy, Lee pledged to adopt a “pragmatic and market-oriented” approach to revitalize growth and foster advanced technologies, such as artificial intelligence and semiconductors.

“I will make a government that supports and encourages, not one that controls and manages,” he said.

In regard to foreign policy, Lee emphasized pursuing “pragmatic” diplomacy centered on national interests to address challenges arising from the shifting economic and security landscape.

“We will strengthen South Korea-U.S.-Japan cooperation based on a solid Korea-U.S. alliance and approach relations with neighboring countries from the perspective of practicality and national interest,” he said.

While underscoring the need for strong deterrence against North Korea’s threats, Lee left the door open to resuming dialogue with the North, which has been stalled since

“We will open channels of communication and pursue dialogue and cooperation with the North to build lasting peace on the Korean Peninsula,” he added.

He faces multiple challenges as his inauguration came after six months of a leadership vacuum in the wake of Yoon’s martial law debacle, which left South Korea’s export-dependent economy vulnerable to U.S. President Donald Trump’s sweeping tariffs.

Lee also faces pressing security challenges, including mounting pressure from the Trump administration for South Korea to increase its financial contributions toward the upkeep of the 28,500 U.S. troops stationed on the peninsula. The discussions come amid growing concerns about a potential realignment of U.S. forces to better counter China’s expanding regional influence.

Following Lee’s election, a White House official affirmed the “ironclad” South Korea-U.S. alliance while expressing concerns over “Chinese interference and influence in democracies.”

Lee is expected to hold a phone call with Trump as early as later this month, according to diplomatic sources.

The ceremony was attended by the heads of the three branches of government, Cabinet members and lawmakers. No foreign dignitaries have been invited.

Prior to the event, Lee paid tribute at Seoul National Cemetery to honor fallen service members.

President Lee Jae-myung burns incense at a memorial at Seoul National Cemetery in Seoul on June 4, 2025. (Pool photo) (Yonhap)

A formal inauguration ceremony will be held July 17 in conjunction with the Constitution Day commemoration, the presidential office said in a release.

The event will be titled an “Appointment Ceremony,” reflecting Lee’s belief that “the people appoint the president,” the office said.

Holding the ceremony on Constitution Day underscores his commitment to “firmly uphold the constitutional order,” it added.

ejkim@yna.co.kr

(END)