South Korea sets snap presidential election for June 3, drawing out contenders

South Korea sets snap presidential election for June 3, drawing out contenders


Han Duck-soo, South Korea’s prime minister and acting president, speaks during a news conference after lawmakers passed a motion to impeach South Korean President Yoon Suk Yeol in Seoul, South Korea, on Dec. 14, 2024.

Bloomberg | Bloomberg | Getty Images

Leading contenders began to throw their hats in the ring on Tuesday as South Korea officially set June 3 for a snap presidential election triggered by last week’s removal from office of impeached leader Yoon Suk Yeol.

The power vacuum at the top of government has impeded Seoul’s efforts to negotiate with the administration of U.S. President Donald Trump at a time of spiraling U.S. tariffs and slowing growth in Asia’s fourth-largest economy.

Yoon was removed on Friday over his short-lived declaration of martial law in December that plunged the key U.S. ally into crisis, triggering a new election that could reshape its foreign and domestic policy.

“The government intends to designate June 3 as the 21st presidential election day,” Acting President Han Duck-soo told a cabinet meeting, citing factors such as the time political parties need to prepare for the event.

Yoon’s labor minister Kim Moon-soo is among a handful of hopefuls who have signaled their intention to run, resigning his post on Tuesday and saying he would launch his campaign.

While not officially a member of Yoon’s People Power Party at the moment, Kim has been polling better than other conservative contenders.

“I tendered my resignation and decided to run because the people want it, people I know want it, and I feel a sense of responsibility to solve national difficulties,” Kim told reporters.

Economic conditions during a “severe national crisis” are hurting people’s livelihoods, he said.

“I thought that all politicians and people should unite to overcome the crisis and work together to help the country develop further,” Kim said.

Ahn Cheol-soo, a PPP lawmaker who was its first to vote for Yoon’s impeachment, also declared his intention to run on Tuesday, saying he was a “cleaner candidate than anyone else”.

He also vowed to secure new economic growth engines including artificial intelligence, to counter Trump’s trade policies.

Ahn fought the last three presidential elections, winning more than 21% of the popular vote in 2017, but dropping out and endorsing other candidates in the other two. He is not polling high enough to be included in most recent surveys.

Economy will be 'a big part' of the next South Korean presidential election: CSIS' Victor Cha

Kim and Ahn will join a wide open field of conservative candidates trying to overcome their party’s second impeachment in as many presidencies.

Conservative Park Geun-hye was impeached, removed from office, and imprisoned in 2017 over a corruption scandal.

Lee Jae-myung, the populist leader of the liberal Democratic Party who lost to Yoon by a razor-thin margin in 2022, is a clear front-runner, but faces legal challenges of his own.

These include multiple trials for charges such as violating the election law and bribery.

Nevertheless, he is expected to step down as DP leader and declare his candidacy as soon as this week.

A Gallup poll published on Friday showed 34% of respondents supported Lee as the next leader, while 9% backed Kim, 5% opted for former PPP leader Han Dong-hoon, 4% chose Daegu mayor Hong Joon-pyo, and 2% plumped for Seoul mayor Oh Se-hoon.

Yoon was removed by the Constitutional Court for violating his official duty by issuing a martial law decree on December 3 and mobilizing troops in a bid to halt parliamentary proceedings.

The law requires a new presidential election to be held within 60 days if the position becomes vacant.

Yoon still faces criminal insurrection charges, with arguments in his trial to begin on April 14.

South Korea has faced months of political turmoil since Yoon stunned the country by declaring martial law, triggering his impeachment by parliament and the impeachment of acting leader Han.

Han’s impeachment was later overturned by the Constitutional Court and he will stay in the role of acting president until the election.



Source

Trump says oil companies will spend 0 billion in Venezuela with U.S. government protection
World

Trump says oil companies will spend $100 billion in Venezuela with U.S. government protection

President Donald Trump met Friday afternoon with more than a dozen oil companies at the White House to discuss plans for investment in Venezuela, less than a week after the U.S. ousted President Nicolas Maduro. Exxon CEO Darren Woods, ConocoPhillips CEO Ryan Lance, and Chevron Vice Chairman Mark Nelson attended. Executives from Halliburton, Valero and […]

Read More
Trump revealed some of Friday’s jobs data early in post the prior day
World

Trump revealed some of Friday’s jobs data early in post the prior day

President Donald Trump in a social media post Thursday evening indirectly revealed data from Friday’s market-moving nonfarm payrolls count, an apparent violation of long-standing federal policy on statistical releases. In a Truth Social post around 9 p.m. ET, the president indicated that private sector payrolls had expanded by 654,000 for the full year of 2025, […]

Read More
Mortgage rates drop to lowest level in nearly 3 years as Trump orders buying of 0 billion in mortgage bonds
World

Mortgage rates drop to lowest level in nearly 3 years as Trump orders buying of $200 billion in mortgage bonds

A ‘For Sale’ sign is posted beside property for sale in Alhambra, California. Frederic J. Brown | AFP | Getty Images Mortgage rates fell sharply on Friday, a day after President Donald Trump said on social media that he is instructing mortgage giants Fannie Mae and Freddie Mac to buy $200 billion in mortgage bonds. […]

Read More