Published by Global Banking & Finance Review®
Posted on April 8, 2025
4 min readLast updated: January 24, 2026
Add as preferred source on GoogleSouth Korea will hold a snap presidential election on June 3 following Yoon Suk Yeol's impeachment. Key contenders include Kim Moon-soo and Lee Jae-myung.
By Joyce Lee
SEOUL (Reuters) - Leading contenders began to throw their hats in the ring on Tuesday as South Korea officially set June 3 for a snap presidential election triggered by last week's removal from office of impeached leader Yoon Suk Yeol.
The power vacuum at the top of government has impeded Seoul's efforts to negotiate with the administration of U.S. President Donald Trump at a time of spiralling U.S. tariffs and slowing growth in Asia's fourth-largest economy.
Yoon was removed on Friday over his short-lived declaration of martial law in December that plunged the key U.S. ally into crisis, triggering a new election that could reshape its foreign and domestic policy.
"The government intends to designate June 3 as the 21st presidential election day," Acting President Han Duck-soo told a cabinet meeting, citing factors such as the time political parties need to prepare for the event.
Yoon's labour minister Kim Moon-soo is among a handful of hopefuls who have signalled their intention to run, resigning his post on Tuesday and saying he would launch his campaign.
While not officially a member of Yoon's People Power Party at the moment, Kim has been polling better than other conservative contenders.
"I tendered my resignation and decided to run because the people want it, people I know want it, and I feel a sense of responsibility to solve national difficulties," Kim told reporters.
Economic conditions during a "severe national crisis" are hurting people's livelihoods, he said.
"I thought that all politicians and people should unite to overcome the crisis and work together to help the country develop further," Kim said.
Ahn Cheol-soo, a PPP lawmaker who was its first to vote for Yoon's impeachment, also declared his intention to run on Tuesday, saying he was a "cleaner candidate than anyone else".
He also vowed to secure new economic growth engines including artificial intelligence, to counter Trump's trade policies.
Ahn fought the last three presidential elections, winning more than 21% of the popular vote in 2017, but dropping out and endorsing other candidates in the other two. He is not polling high enough to be included in most recent surveys.
Kim and Ahn will join a wide open field of conservative candidates trying to overcome their party's second impeachment in as many presidencies.
Conservative Park Geun-hye was impeached, removed from office, and imprisoned in 2017 over a corruption scandal.
Lee Jae-myung, the populist leader of the liberal Democratic Party who lost to Yoon by a razor-thin margin in 2022, is a clear front-runner, but faces legal challenges of his own.
These include multiple trials for charges such as violating the election law and bribery.
Nevertheless, he is expected to step down as DP leader and declare his candidacy as soon as this week.
A Gallup poll published on Friday showed 34% of respondents supported Lee as the next leader, while 9% backed Kim, 5% opted for former PPP leader Han Dong-hoon, 4% chose Daegu mayor Hong Joon-pyo, and 2% plumped for Seoul mayor Oh Se-hoon.
Yoon was removed by the Constitutional Court for violating his official duty by issuing a martial law decree on December 3 and mobilising troops in a bid to halt parliamentary proceedings.
The law requires a new presidential election to be held within 60 days if the position becomes vacant.
Yoon still faces criminal insurrection charges, with arguments in his trial to begin on April 14.
South Korea has faced months of political turmoil since Yoon stunned the country by declaring martial law, triggering his impeachment by parliament and the impeachment of acting leader Han.
Han's impeachment was later overturned by the Constitutional Court and he will stay in the role of acting president until the election.
(Reporting by Joyce Lee; Editing by Ed Davies and Clarence Fernandez)
The main topic is South Korea's snap presidential election set for June 3 following the impeachment of Yoon Suk Yeol.
Key candidates include Kim Moon-soo, Ahn Cheol-soo, and Lee Jae-myung.
Yoon Suk Yeol was impeached for declaring martial law and violating his official duties.
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