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S Korea's new leader pledges to 'heal wounds' with North

Khaleej Times

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June 05, 2025

Rising protectionism, supply chain restructuring pose an existential threat to economy: Lee

South Korea's President Lee Jae-myung vowed to reach out to the nuclear-armed North and "heal wounds" as he took office on Wednesday, after winning a snap election triggered by his predecessor's disastrous martial law declaration.

South Korea's new centre-left leader also warned that “rising protectionism and supply chain restructuring” pose an existential threat to Asia's export-dependent fourth-largest economy, which has been buffeted by the global trade chaos sparked by US President Donald Trump.

Lee scored a thumping victory over conservative Kim Moon-soo of the disgraced ex-president's former party. His term began immediately after the vote tally was certified Wednesday.

Lee secured 49.4 per cent of the vote, ahead of the 41.2 per cent for Kim—who conceded, having been hampered by party infighting and a third-party candidate splitting the right-wing vote.

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