Key Points:

• Lee Jae-myung, South Korea's opposition leader, has announced his presidential run ahead of the June 3 election.
• He aims to tackle economic inequality and promote growth after a tumultuous political period.
• Polling shows Lee as a frontrunner, significantly leading over his conservative rivals.

SEOUL: Lee Jae-myung, the leader of South Korea's main opposition Democratic Party, has formally declared his candidacy for the presidency, with the election set for June 3. This announcement comes after the impeachment of former President Yoon Suk-yeol, whose removal catalyzed political upheaval in the nation. Lee, who narrowly lost to Yoon in the 2022 presidential race, has emerged as a frontrunner in public opinion polls, securing 34% support according to a Gallup poll released earlier this month, compared with just 9% for his strongest conservative contender, former Labor Minister Kim Moon-soo.

In a video accompanying his candidacy announcement, Lee pledged to confront economic polarization, which he identifies as a significant source of social conflict in South Korea. He stated his intention to drive government investments in technology and talent development to revitalize the economy. Furthermore, amid concerns regarding his party's potential impact on international relationships, Lee assured that he values South Korea's alliance with the United States and stressed the importance of cooperation with Japan, maintaining that the national interest must be prioritized.Reuters reported his commitment to pragmatic diplomacy.

Lee recently stepped down from his leadership role to concentrate fully on his campaign. His call for restoring economic stability and public trust follows a period marked by political strife due to Yoon's controversial martial law announcement, which is now under scrutiny following the court's endorsement of his impeachment. Observers note that economic growth and national stability could heavily influence the election outcome, particularly as South Korea grapples with regional tensions and domestic challenges stemming from Yoon's presidency.South China Morning Post outlined his background as a populist leader shaped by his journey from poverty to political prominence.

Despite facing ongoing legal challenges, including bribery and corruption allegations linked to past land development initiatives, Lee's base remains supportive. He has consistently rebuffed claims of being a reckless populist, arguing instead for a pragmatic approach during his campaign launch. In his view, it is imperative that policies be effective regardless of their ideological origin, utilizing the adage, "It doesn't matter if a cat is black or white, as long as it catches mice," to emphasize practicality.Al Jazeera highlighted his pledges of engagement with North Korea, indicative of his different stance compared to his predecessor.

The election is poised to be a critical juncture for South Korea, as citizens look for leadership that can navigate the complexities of both internal and external pressures, reaffirming Lee's commitment to fostering an economy that serves all citizens while restoring confidence in governance.

For more detailed information, refer to the original articles from Channel News Asia, Al Jazeera, and Reuters.