Opposition party leader Lee J Mun leads in polls as South Korea voted for a new president

It is envisaged that the leader of the opposition party of South Korea Lee Gi Mun is to win the country’s presidential election on Wednesday, according to a Gallup poll quoted by Yonhap.

An election victory for the Democratic Party candidate will create him to be the next leader in the country after removing President Ion Suk Youol and defining the trajectory of South Korea’s trade negotiations with the United States and the policies for China and North Korea.

Ion was an impeach After his short -term statement of martial law last December and was removed from the office by the country’s Constitutional Court in April. This provoked the election for SNAP president.

Lee, who lost to Yown with a thin razor in 2022. Presidential electionThere is currently a significant lead in the study of public opinion. The Gallup poll has been reported to have shown that 49% of the respondents supported the liberal candidate to become president.

This is compared to 35%collected by his closest rival, Kim Moon Su of the Conservative People’s Party of Party, which was former President Yon.

Lee’s eligibility for the Presidency was in doubt after being charged with breach of election, but the final decision in the case had have been postponed to the election from the Supreme Court of South Korea.

This opinion was voiced by companies like Eurasia Group, which stated in the note on May 27 that Lee was the “clear favorite” to win the election, setting his chances of winning 80%.

Eurasia said that while Lee has transferred his position to the political center in an attempt to attract independent and centrist votes, he will probably pursue an easier program for office.

“The main surveillance points include the size of a second additional budget and Lee’s approach to US tariff negotiations,” the company added.

Eurasia predicts that if Lee is elected, he will fight the double challenges for the revival of the South Korea economy and the implementation of a package agreement with the United States until July.

“However, he has signaled the desire to move more slowly in negotiations with Washington and will probably seek to conclude Korea’s deal against the terms agreed by other countries, including Japan, before finalizing an agreement,” Eurasia said.

Lee had According to messages On May 25, the deadline for tariff conversations with the US must be extended. Seoul and Washington have agreed to make a package of tariff transactions until July 8.

Separately, the Goldman Sachs, in a note on May 27, also noted that both PPP and Lee’s KIM share the similarities in its goals, including economic growth, stable financial markets and improving home accessibility.

However, some key differences, Goldman said, are on their economic policy platforms on how to promote growth.

“D -Lee stands for fiscal support for strategic industries, while D -n Kim prefers the revival of private entrepreneurship through deregulation and reduction of taxes.

Goldman estimated that fiscal policy – the use of government spending and taxation to impact on the economy – according to the DP’s LEE would probably be more expansionist than with Kim, and that Korea’s monetary policy would probably partially compensate for the difference in fiscal policy.

Bok had Recently reduced the percentages last week to Its lowest level since August 2022, saying it expects economic growth to “decrease significantly”.

Regardless of the election result, the South Korean won is likely to appreciate the US dollar “to reduce the uncertainty of politics after the formation of a new government and a broad weakness of the US dollar against Asian currencies,” Goldman added.