Yoon Suk Yeol, a former prosecutor, narrowly defeats liberal rival Lee Jae-myung in South Korea's presidential election, and will serve a single five-year term as leader of the world’s 10th-largest economy.
on Thursday after his liberal ruling party rival conceded defeat in a bitter battle in the politically divided nation.
Yoon thanked his supporters outside his home in the capital, Seoul, after what he described as a “long night.” Yoon and Lee recently agreed that if they won they would not start politically motivated investigations against the other, but many believed the losing candidate could still face criminal inquiries over scandals they’ve been linked to.
South Korea’s Constitution limits a president to a single five-year term, so Lee’s party colleague, President Moon Jae-in, could not seek re-election. Moon came to power in 2017 after conservative President Park Geun-hye was impeached and ousted from office over a huge corruption scandal.
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