South Korea seeks a president who will bring stability

BeijingSouth Korea votes this Tuesday in a quest for institutional order and economic stability. The presidential elections aim to end the period of chaos unleashed in December when Former President Yoon Suk-yeol declared martial law for hours and was removed from office.This sparked a serious political crisis.

The current opposition leader, Lee Jae-myung of the Democratic Party (DP), is the favorite in the polls over Kim Moon-soo, the governing candidate of the People's Power Party (PPP). In total, six candidates are running in these presidential elections. South Koreans are voting at a time of instability with many pending challenges. Not only do they need to stabilize domestic politics with a new president validated by the ballot box, they also need a strong government to revive the economy.

Despite historically good relations with the United States, Donald Trump has shown no mercy, and South Korea is also threatened by rising tariffs. Seoul must face tough negotiations to protect its exports while rebuilding relations with Washington. Trump's unpredictable behavior also raises questions about the strength of his support for South Korea's military defense.

The new presidency will also have to smooth over tensions with China, which remains its main trading partner, and overcome political differences while confronting China's growing military power. The elections come at a time when its neighbor and enemy, North Korea, has a stronger position, thanks to its alliance with Russia.

Domestically, the new president will have to try to reduce unemployment and deal with the problem of an aging population. South Korea still has one of the lowest birth rates in the world, and, so far, incentives to increase births are not yielding very good results.

The election campaign has been fierce and has reflected the polarization that exists in South Korean society. All kinds of personal attacks have been intensified. Government candidate Kim Moon-soo has accused his rival of being a dangerous populist with impossible-to-implement economic prescriptions. Meanwhile, opposition leader Lee has insisted that Kim is merely a clone of the ousted former president and shares the same authoritarian tendencies.

Lee Jae-myung is the favorite because he has managed to channel the protests against former President Yoon Suk-yeol, who is awaiting trial for insurrection. The Democratic Party candidate is considered an alternative within his own party. He comes from the working class and is described as a self-made man removed from the political elites, which is why he attracts the workers' vote. Some of his proposals, such as implementing a universal basic income, overwhelm his own party on the left. In 2022, Lee Jae-myung narrowly lost the election to Yoon Suk-yeol. This result was largely due to the mobilization of young male voters, to whom Yoon promised to reverse the weak gender equality policies and even abolish the Ministry of Gender Equality.

Kim Moon-soo is trying to retain power for the People Power Party. He is a former labor minister and has focused his campaign on the need to stabilize the economy. His main handicap has been the toxic figure of former President Yoon. Despite trying to distance himself, during the campaign he has avoided criticizing him or explaining his actions.

Discrimination against women

South Korea is one of the developed countries where women suffer the greatest discrimination. Sexual abuse laws are very lax, women earn on average 31% less than men, only 14.6% of executives are women, and women represent less than a fifth of women in parliament. For the first time in nineteen years, there are no female candidates in these elections. However, the deteriorating economy and rising unemployment have sparked a wave of youth protests against equality laws.

This has made the word feminism has become taboo for politicians. The mobilization of young women in the protests against Yoon contributed to his downfall, but they are the great forgotten of these elections. Progressive candidate Lee has avoided talking about equality policies throughout the campaign to avoid losing votes.

So far, early voting has closed with a high turnout of 34.74%. South Korea opened polling stations on Thursday and last Friday to make it easier for everyone to exercise their right to vote in case they are unable to do so on election day, June 3.