defeat of President Yoon, affected by the economy and scandals

The Democratic Party, the main opposition force, won 175 of the 300 seats and was one step away from the two-thirds “supermajority” that could have blocked the president's decisions. Prime Minister Han Duck-soo and several other conservative leaders have resigned.

Seoul (/Agencies) – In South Korea, the opposition won a landslide victory in the elections, a result that leaves conservative President Yoon Suk-yeol in a difficult position, whose term expires in three years. Prime Minister Han Duck-soo and other People Power Party leaders resigned after what analysts believe was a midterm vote, a sort of referendum on Yoon's administration.

The Democratic Party (DP) won 175 of the 300 seats and was one step away from the “supermajority” of 200 seats that would have allowed Parliament to block the president's decisions.

After the results were announced, Lee Jae-myung, the DP leader who lost the 2022 election to Yoon, declared that the top priority will be working toward an economic recovery that is palpable to the average consumer. “Politicians on both sides must join forces to address the current economic crisis. The Democratic Party will be on the front line to solve the income crisis,” he said, adding: “This is not a victory for the Democratic Party, but a great victory for the people.”

Yoon's administration has struggled to address a host of issues including rising food prices, a rapidly aging population and a weeks-long strike by practicing doctors. In the weeks before the elections he had received criticism because he did not seem interested in the impact of rising inflation on citizens. For example, during a visit to a supermarket in the capital, Seoul, he said that 875 won (65 cents) for onions was a “reasonable” price. But that value was determined by subsidies, otherwise it would have been at least 3 or 4 thousand won. From that moment onion bundles became part of the opposition's electoral campaign.

But according to experts it would be simplistic to limit the defeat to this issue. Along with the mismanagement of the economy, a series of political and family scandals (especially that of the famous and very expensive Dior bag that the first lady accepted as a gift from a Methodist pastor, violating the rules), also affected the People Power Party. To the point that several personalities in conflict with Yoon left the Party to give life to new political formations.

Accepting defeat, Yoon promised to “reform the administration” and “stabilize the economy.” Some observers speculate that the conservative president, to divert attention from economic problems, could focus more on his foreign agenda, including strengthening security ties with the United States and Japan, but if the opposition cuts the budget, this alliance will also could weaken.