SOUTH Korean opposition leader Lee Jae Myung, widely seen as the frontrunner in an early presidential election triggered by last week’s removal of Yoon Suk Yeol last week, announced his candidacy today.

Mr Lee, who narrowly lost the 2022 election to the now disgraced Mr Yoon, led the liberal Democratic Party’s campaign to oust Mr Yoon over his declaration of martial law last December.

He is considered the clear favourite in the party’s primary. 

Kim Dong Yeon, the Democratic governor of Gyeonggi province, also told reporters Wednesday that he intends to stand for the presidency.

Mr Yoon’s downfall has left the conservative People Power Party in disarray, with roughly 10 politicians expected to seek the nomination, reflecting a split between Yoon loyalists, who still control the party’s leadership, and reformists calling for a fresh start.

In a video message, Mr Lee said that Mr Yoon’s martial law saga had exposed the country’s deep divisions and social conflicts, arguing that the root cause was a widening gap between rich and poor. 

He promised to raise government spending sharply to kick-start economic growth and ease income polarisation.

Mr Lee said it was crucial to maintain a robust alliance with the US and to pursue three-way co-operation with Japan, but he stressed that South Korea’s national interest should come first in “every decision.”