Lee Jae-myung sworn in as South Korea’s new president after snap election win

South Korea’s new President Lee Jae-myung was sworn in following a historic win in a snap election, vowing to pursue diplomacy with North Korea and deepen trilateral cooperation with the United States and Japan.

In his inaugural address on Wednesday, Lee said his government would seek "strong deterrence" against North Korean threats based on the South Korea-US alliance, but would also leave the door open to dialogue to secure peace on the peninsula.

He pledged a pragmatic foreign policy and reinforced his commitment to regional stability by boosting Seoul-Washington-Tokyo ties.

Lee also vowed to lead South Korea towards a "renewable energy-centred society", and implement domestic reforms aimed at addressing deepening inequality and demographic decline.

Economic challenges and tariff tensions

Lee begins his presidency at a time of growing economic pressure. His country’s steel and aluminium exports face steep 50 percent tariffs from Washington under US President Donald Trump’s expanding trade measures.

South Korea was the fourth-largest exporter of steel to the US last year. Analysts say the new administration may seek to delay negotiations, citing the abrupt power transition as a justification for more time to study how other countries, including Japan and China, are handling their trade talks with the Trump administration.

Lee has said there is "no need to rush" a deal, though he acknowledged trade with the US was the "most pressing matter."

He said that within a rapidly shifting global environment, including increased protectionism, he would pursue pragmatic diplomacy for the sake of national interests, while continuing Seoul's security cooperation with the United States and Japan.

North Korea and regional security

Lee’s approach to North Korea marks a shift from the hardline stance of his predecessor, Yoon Suk-yeol, whose tenure saw ties with Pyongyang hit a low point.

Although his Democratic Party has a more dovish history, Lee said he would combine military deterrence with efforts to resume dialogue.

"We will heal the wounds of division and war and establish a future of peace and prosperity," he said.

"No matter how costly, peace is better than war."

North Korea has declared the South an enemy state and bolstered ties with Russia, reportedly sending thousands of troops to support Moscow’s war in Ukraine.

Superpower balancing act

Lee’s administration also faces pressure to navigate tensions between the US and China.

While the US remains South Korea’s key security partner, China is its largest trading partner and a longtime backer of North Korea.

Lee has advocated friendlier ties with Beijing. When asked by TIME magazine whether South Korea would come to Taiwan’s aid in the event of a Chinese attack, Lee responded, "I will think about that answer when aliens are about to invade the Earth."

Political reform and social issues

He has also promised to investigate the attempted suspension of civilian rule and push for constitutional amendments to prevent such moves in the future.

The new president faces urgent domestic challenges, including one of the world’s lowest birth rates, rising inequality, and a housing crisis.

Lee has pledged to shorten the work week, raise the retirement age, and expand welfare services for children, the elderly, and people with disabilities.

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Source: TRT