International NewsNews

Resignations Follow Conservative Defeat in South Korean Parliamentary Elections

Following a significant defeat in the Parliamentary elections, South Korea’s Prime Minister Han Duck-soo and several senior Presidential officials offered their resignations, excluding those overseeing security matters. The ruling People Power Party’s loss signifies an extended period of Opposition control in Parliament, posing challenges to President Yoon Suk Yeol’s agenda and weakening his party’s influence. President Yoon, while acknowledging the election outcome, vowed to prioritize economic improvement and state affairs reform.

The main Opposition Democratic Party secured a substantial number of seats, signaling a shift in political dynamics. Amidst concerns over governance, Yoon’s ability to implement business-friendly policies and tax reforms may face obstacles with an Opposition-controlled National Assembly. As political tensions persist, South Korea prepares for a new parliamentary term, emphasizing the need for bipartisan cooperation to address economic and public livelihood challenges.