SEOUL — Lee Jae-myung, leader of South Korea's main opposition Democratic Party, announced on Wednesday (April 9) that he is stepping down, fueling speculation about his potential candidacy for the presidency. Lee, currently leading opinion polls as a populist front-runner, hinted at taking on "new work" but did not confirm his intentions to run.

South Korea’s Labour Minister Kim Moon-soon, a member of the ruling People Power Party, officially declared his candidacy, joining a growing list of potential contenders. The presidential election is scheduled for June 3, following the impeachment of former President Yoon Suk-yeol over a martial law declaration in December. The decision was upheld on April 4.

Lee, 61, narrowly lost the 2022 presidential election to Yoon, marking the closest race in South Korean history. He later led the Democratic Party to a sweeping victory in parliamentary elections last year. While the Democratic Party appears unified behind Lee, the People Power Party has multiple potential candidates, including Kim and the Mayor of Seoul.

Kim, a staunch conservative and Yoon supporter, currently leads the conservative field but trails Lee in hypothetical head-to-head polls. His platform emphasizes strengthening the US-South Korea security alliance and exploring nuclear armament by securing nuclear fuel reprocessing rights and developing nuclear-powered submarines. "In the face of North Korea's nuclear threat, I aim to safeguard freedom and human rights globally by advancing our nuclear capabilities," Kim stated.

Disclaimer: This image is taken from Reuters.