Republic of Korea's president-elect Yoon Suk-yeol speaks during a news conference at the National Assembly in Seoul on March 10, 2022, the morning after his victory in the country's presidential election. (KIM HONG-JI / POOL / AFP)
Conservative candidate Yoon Suk-yeol won Republic of Korea’s 20th presidential election in an extremely tight race, putting him on course to steer Asia’s fourth-largest economy for the next five years.
Yoon, from the main opposition People Power Party, garnered 48.56 percent support in the March 9 election, defeating his liberal rival Lee Jae-myung of the ruling Democratic Party by a narrow margin, according to Xinhua News Agency.
Based on the final results released by South Korea’s National Election Commission on March 10, Lee took 47.83 percent of the votes.
The 0.73 percentage-point gap makes the latest presidential election one of the tightest contests in South Korean history.
About 34 million voters among the electorate of 44.2 million people cast their ballots, with a final turnout of 77.1 percent, which was a tad lower than the 77.2 percent turnout seen in 2017. There were two days of early voting, from March 4 to 5.
Yoon celebrated with jubilant party officials at the National Assembly building, saying in a speech that it was a victory of the great South Korean people and that it is time for national unity.
The president-elect thanked and consoled his competitors, Lee and Sim Sang-jung of the progressive Justice Party, saying the whole country should work together and be united as the election has ended and the competition is over.
Lee, a former Gyeonggi province governor, conceded defeat and said it was neither the failure of people nor that of the governing party, laying all the blame on himself.
He extended congratulations to Yoon, saying he hopes the new president will open a new era of unity and harmony for South Korea.
In a phone conversation on March 10, Moon Jae-in, the incumbent South Korean president, congratulated Yoon on winning the election, Yonhap News Agency reported. The two are said to have discussed ways to ensure smooth transition of power.
Born on Dec 18, 1960 in Seoul, Yoon studied law at the elite Seoul National University and began his career as a public prosecutor in 1994. In 2016, he became the head of the investigation team of an independent council, leading a special probe on a corruption scandal involving former South Korean president Park Geun-hye, which eventually led to her impeachment in the following year.
In 2017, Yoon was named as chief of the Seoul Central District Prosecutor’s Office and became a prosecutor general in July 2019. In March 2021, Yoon stepped down from the post and declared his candidacy for president in June of the year.
As a candidate, Yoon pledged to increase the supply of homes for people and provide financial support for small-business owners who suffered during the pandemic. He also vowed to provide a monthly subsidy of 1 million won ($812) for one year to parents who give birth to help address the country’s low birth rate.
Yoon pledged to realize sustainable peace and safety on the Korean Peninsula through a complete, verifiable denuclearization of the peninsula.
He also pledged to build the South Korea-China relationship based on mutual respect while strengthening the comprehensive strategic alliance between Seoul and Washington.
