South Korea’s political landscape remains in turmoil after acting President Lee Ju-ho stepped in following key officials' resignation.
Education Minister Lee took over as acting president, the third since the martial law decree, in advance of the 3 June snap election.
Lee vowed to stabilise government operations and ensure a fair vote.
The transition came after former President Yoon Suk Yeol was removed from office over his brief attempt to impose martial law.
Now, the country's top court has cast doubt on frontrunner Lee Jae-myung’s eligibility to run in next month’s snap presidential election.
Election race faces legal uncertainty
The presidential race has taken a dramatic turn as frontrunner Lee Jae-myung faces renewed legal challenges. The Supreme Court ruled that Lee violated election laws in 2022, sending his case back to the appeals court. If convicted, he could be barred from running for five years, throwing the election into uncertainty.
Economic pressures mount amid US tariffs
South Korea is scrambling to revamp its trade strategy as United States tariffs threaten key industries. The government is pushing for expanded trade agreements while pumping billions into semiconductor production to counter potential new tariffs. The next president will have to navigate tense trade negotiations with Washington while balancing domestic economic concerns.
Crypto policy becomes election battleground
The People Power Party (PPP) has pledged to abolish restrictive crypto exchange banking laws if elected. The current rules force exchanges to partner exclusively with banks, limiting competition. With the Democratic Party (DP) leading in polls, the crypto industry is watching closely to see if regulatory changes will materialise after the election.
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