South Korea has a new president, and hopefully this one doesn’t try to pull off a sneaky little coup like the last one.
What happened: Lee Jae-myung was sworn in this week as the new president of South Korea after notching a decisive electoral victory on Tuesday. The leader of the liberal Democratic Party’s win was a clear rebuke of the reign of the previous ruling party.
Why it matters: Last December, then-president Yoon Suk Yeol briefly declared martial law, which many viewed as a coup attempt. He was impeached soon after, which was ratified in April. South Korea has been looking for stability and national unity ever since.
- Lee has promised to deliver just that, saying that he will "unite the people" in his inauguration speech.
In Canada: Per the Asia Pacific Foundation of Canada, Lee is likely to stay the course of furthering bilateral trade ties with Canada. His agenda is expected to align with Canada’s when it comes to critical minerals, clean energy, defence co-operation, and strategic technologies.
- South Korea is Canada’s seventh-largest trade partner and could be a key customer for critical minerals and liquefied natural gas, which is why B.C. sent a trade envoy.
Yes, but: Lee himself is not without scandals that could cause disunity. He’s facing no fewer than five criminal trials relating to corruption during his time as mayor of Seongnam and election law during his 2022 presidential bid. It’s unclear if he’ll be protected by presidential immunity if he’s found guilty, as the alleged crimes took place before he was president.—QH