S.Korea opposition leader launches presidential bid

South Korean opposition leader Lee Jae-myung, widely seen as the front-runner in a presidential by-election triggered by the removal of Yoon Suk Yeol last week, announced his presidential bid on Thursday, vowing to heal a starkly divided nation through economic growth.

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Lee, who narrowly lost the 2022 election to Yoon, led the liberal Democratic Party's campaign to oust the former president over his December declaration of martial law.

He recently stepped down as the party's chairman to focus on campaigning for the June 3 election.

Lee is considered the clear front-runner in party's primary. Kim Dong-yeon, the Democratic governor of Gyeonggi province and a longtime financial policymaker, also told reporters on Wednesday that he intends to run for president.

Yoon’s downfall has left the conservative People Power Party in disarray, with roughly IO politicians expected to seek the nomination, reflecting a split between Yoon loyalists, who still control the party’s leadership, and reformists calling for a fresh start.

In a video message, Lee said that Yoon’s martial law saga exposed the country’s deep divisions and social conflicts, and argued that the root cause was a widening rich-poor gap.

He promised aggressive government spending to jolt economic growth and ease income polarisation.