New South Korean president Lee Jae-myung promises economic revival and unity

Reuters

South Korea’s new President Lee Jae-myung vowed to rescue the nation from political chaos and economic turmoil, promising market reforms and renewed diplomacy after a historic electoral win.

Liberal leader Lee Jae-myung was sworn in as South Korea's president after a decisive victory in a snap election, marking a dramatic political shift following the collapse of Yoon Suk Yeol's government amid a failed martial law attempt. Pledging pragmatic, pro-market policies, Lee outlined plans to revive the economy strained by global protectionism, tackle cost-of-living issues, and address a looming trade dispute with the U.S.

He also emphasized peaceful engagement with North Korea and balanced diplomacy with China, while reaffirming South Korea's alliance with the U.S. Lee’s inauguration sparked a rally in South Korean markets, driven by investor optimism over economic reforms and a shift to greener energy. His government now faces the immediate task of negotiating with the Trump administration over punitive trade tariffs.

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