In a stunning electoral upset, South Korea‘s liberal opposition parties have secured a decisive victory in the parliamentary election held on Wednesday, dealing a significant blow to President Yoon Suk Yeol and his conservative party. While falling just short of a super majority, the Democratic Party (DP) is poised to claim over 170 seats in the new legislature, according to data from the National Election Commission and network broadcasters, with more than 99% of the votes tallied as of Thursday morning.
Projections also indicate that a splinter liberal party, allied with the DP, is set to secure at least 10 seats, further bolstering the opposition’s dominance in the parliament.
The fiercely contested election, viewed by analysts as a referendum on President Yoon’s leadership, comes amid a backdrop of mounting discontent fueled by a cost-of-living crisis and a series of political scandals. While President Yoon’s People Power Party (PPP) managed to secure just over 100 seats, the outcome signals a significant setback for his administration.
Although President Yoon, who assumed office in May 2022, was not up for re-election, the poor showing by the PPP is likely to undermine his ability to advance legislative agendas, including pledges to enact tax cuts, ease business regulations, and enhance family support in the rapidly ageing society.
With expectations mounting for President Yoon’s diminished influence in domestic affairs, analysts suggest that he may pivot towards focusing on his overseas agenda. However, such maneuvers could face challenges if the opposition, empowered by its majority, moves to curtail budgets or enact policy measures counter to the president’s objectives.
As the National Election Commission prepares to announce the official results, the high voter turnout – marking the highest ever for a parliamentary election – underscores the significance of this electoral outcome and the electorate’s desire for change.
In the aftermath of this seismic political shift, South Korea stands on the cusp of a new era, with the liberal opposition poised to reshape the country’s legislative landscape and steer the nation’s future trajectory.
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