Yoon Suk-yeol wins South Korean presidency; here's all you need to know about him

Conservative candidate Yoon Suk-Yeol on Thursday was elected as the new president of South Korea in a closely fought poll contest. Yeol secured 48.56% against his chief liberal rival Lee Jae-Myung of the Democratic Party, who received 47.83%, making it a major tectonic shift in the country's politics. Yeol is scheduled to assume office as President of  South Korea from May 10, 2022.

"It was a hot and passionate race. It was the victory of the great (South Korean) people rather than that of me and the People Power Party," Yoon Suk-Yeol said after his opponent conceded defeat, as quoted by Nikkei Asia.

"The competition is over, and it is time to unite for people and the Republic of Korea. I will respect the constitution band the parliament, and I will serve people well, cooperating with opposition parties," he added.

Who is Yoon Suk-Yeol?

With more than 98% of the ballots counted, Yoon Suk-Yeol emerged victorious in the 2022 presidential elections of South Korea. Yeol is a former public prosecutor and lawyer. He has previously served as Prosecutor General of South Korea between 2019 and 2021 under ex-South Korean President Moon Jae-in. Born in Seoul in December 1960, Yeol did his schooling at Seoul National University. During his tenure as chief prosecutor, he played a key role in convicting former South Korean President Park Guen-Hye for power abuse. Yeol officially announced his candidacy for the 2022 elections on June 29, 2022, and later officially joined the conservative People Power Party, the main opposition of the incumbent Democratic Party.

During his presidential election campaigns, Yeol expressed strong condemnation for economic interventionism and supported economic liberalism. In November 2021, he stated that if elected as president, he will demand the US to redeploy tactical nuclear weapons in South Korea. He also added that he would be open to more US THAAD missile deployments in the country. Yeol also vouched for the abolishment of the 52-hour work-week and minimum wage. In January this year, he was widely slammed by feminist organisations after he called for scrapping the Ministry of Women and Family in a Facebook post.

[National Election Commission officials sort out ballots for counting . IMAGE: AP]

Yeol wins nail-biting elections against Lee Jae-Myung

In a neck-to-neck battle, Yeol secured majority ballot share, according to South Korea's National Election Commission. The voter turnout for the 2022 Presidential election was 77.1%, which was marginally lower than in 2017. On Thursday, Lee conceded his defeat, blaming himself for not "living up to expectations" of South Koreans. "Fellow Koreans, we did our best, but we did not live up to expectations," he said. "I would like to express my apologies to the many citizens of the country who have left their daily lives behind and have been with us. Thank you for your passionate devotion. It is all because of my shortcomings. This is not your defeat nor the Democratic Party's defeat. All responsibility rests solely on me." Lee Jae-Myung said, as quoted by CNN.

Lee sent his congratulations to his rival and urged him to "usher in an era of unity and harmony being division and conflict." In his speech, he hailed South Koreans for their remarkable strength against the COVID-19 pandemic. To note, Moon Jae-in was not allowed to run for a second term since in South Korea presidency term is limited to a single five years.

[South Korean Democratic Party nominee for 2022 Presidential elections, Lee Jae-Myung. IMAGE: AP]

Yeol's victory brings South Korea back into Conservative hands

It is pertinent to mention that both the presidential candidates came from two very contrasting backgrounds, while Lee hails from a lower-middle-class family, who had worked in a factory when he was young, Yeol has an elite history. Lee went on to practice civil rights before entering politics and served as a Mayor of Seongnam, southeast of Seoul, and later was elected governor of Gyeonggi Province.

However, Yeol, an alumnus of Seoul University, rose through the ranks. As per CNN, his win brings back South Korea in the hands of a novice politician who plagued Moon Jae-in's aides. After more than five years, Yeol's victory will bring South Korea to Conservatives after their former president Park Guen-Hye was impeached over her own corruption scandal. After joining the office, he will have to deal with North Korea's threat, widening tensions between the US and China, and lead South Korea through the next stage of the pandemic.

(Image: AP)