• Lee Jae-myung was elected South Korea's president with 49.42% of the votes in a snap election.
• The election saw the highest voter turnout since 1997, fueled by public anger over the previous administration's martial law attempt.
• In his inaugural address, Lee pledged to revive democracy and engage in dialogue with North Korea.
• Lee aims to tackle South Korea's economic challenges, including high tariffs from the U.S. and stagnating growth.
• Southeast Asian leaders have congratulated Lee, emphasizing strong bilateral ties and cooperation.

Lee Jae-myung has been elected as South Korea's president, taking 49.42% of the vote in a snap election held following months of political turmoil after the impeachment of former president Yoon Suk Yeol, who attempted to impose martial law. The election, which saw a voter turnout of 79.4%, the highest since 1997, reflected widespread public dissatisfaction with the previous administration, according to Channel News Asia.

In his inaugural address, President Lee emphasized the need to heal divisions within the country and proposed a pragmatic approach to rebuilding dialogue with North Korea, balancing military deterrence with diplomatic efforts. He stated, “It is better to win without fighting than to win in a fight,” highlighting the importance of peace on the Korean Peninsula, reports Al Jazeera.

Lee's government will address significant economic challenges, particularly in light of the U.S.'s recently imposed tariffs on South Korean goods. He has vowed to implement a fiscal stimulus of 30 trillion won ($22 billion) to combat stagnation and improve conditions for low- and middle-income families, according to Reuters and Channel News Asia.

Lee quickly began filling key government positions, including appointing his campaign aide Kim Min-seok as Prime Minister, as part of efforts to stabilize governance after a turbulent transition period. His administration faces the challenge of navigating foreign relations amidst escalating trade tensions, particularly with the U.S., which has expressed concerns over ongoing tariffs and disputes regarding military support, as highlighted by South China Morning Post.

Additionally, leaders from Singapore have congratulated Lee, reinforcing the importance of robust international relations and promising cooperation on various fronts, as noted by Channel News Asia.