Who will be South Koreas next president?
EconomistMAY 5
SKorea: Lee Jae-myung Leads in Polls for June 3 Election
Above: Lee Jae-myung, presidential candidate for South Korea's Democratic Party, gives a thumbs-up on stage during a campaign event in the Bupyeong district of Incheon, South Korea, on May 21, 2025. Image copyright: SeongJoon Cho/Contributor/Bloomberg via Getty Images
The Spin
Liberal narrative
Lee Jae-myung’s surge past 50% in polls reflects a national call for change after Yoon’s impeachment. His pragmatic agenda — backed by major investments in semiconductors, AI, and green tech, plus balanced diplomacy between the U.S., China, and North Korea — signals a clear break from old factions. With broad support across regions and age groups, Lee stands poised to unite the country and lead South Korea into a resilient, future-ready era.
Conservative narrative
Kim Moon-soo faces steep odds, but he remains the last bulwark against one-party dominance. While backing tax cuts, deregulation, and a strong U.S. alliance, Kim stands alone as the right fractures. With Lee Jun-seok refusing to unify the right, conservatives risk splitting the vote — paving the way for Lee Jae-myung to win the presidency atop a liberal supermajority. That much unchecked power would erode oversight and tilt Korea sharply left.
Establishment-critical narrative
In the wake of Yoon’s martial law declaration and deepening national division, this election must be a turning point for healing in South Korea. Instead of bitter attacks, voters deserve a real debate on jobs, housing, and foreign policy. Lee Jae-myung’s calls for unity and pragmatic reform offer a path forward, while the PPP must accept responsibility for the chaos they’ve caused. Whichever side wins, rebuilding trust in democracy must come first — the nation can’t afford more chaos.