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South Korea’s Political Turmoil Raises Support for Yoon’s Rival

Lee Jae-myung (Woohae Cho/Photographer: Woohae Cho/Bloombe)

(Bloomberg) -- South Korean President Yoon Suk Yeol’s dramatic fall is building public support for his biggest political rival — Lee Jae-myung — to run as the nation’s next leader if fresh elections happen.

The number of respondents who favor Lee as the next president now stands at 37% in a poll published Friday by Gallup Korea. That’s up from 29% in a Dec. 6 survey, which was compiled after Yoon’s short-lived declaration of martial law. The impeached president’s decree enraged many Koreans and pushed his approval rating down to a record-low 11% last week.

Support for Lee’s main opposition Democratic Party climbed to a record of 48% this week from last week’s 40%, while the rate remained unchanged at 24% for Yoon’s ruling People Power Party, Friday’s Gallup poll showed. Separately, 60% of respondents expect South Korea’s economy to deteriorate over the next year. Only 16% anticipate improvement. 

The Constitutional Court is now deliberating on parliament’s impeachment motion against Yoon. The legal review could end as late as June. If he’s ultimately ousted, South Korea must hold an election within 60 days.

Even if Yoon is removed, that doesn’t mean Lee will necessarily get to contest in the election. An appellate court is looking into Lee’s November conviction for making false claims while campaigning for president in 2021. 

The judges are expected to rule on his appeal of the conviction by February. If the verdict remains guilty, Lee would be barred from seeking office for 10 years.

©2024 Bloomberg L.P.