South Korea elections

On 9^th May Moon Jae-in took over as the 12^th President of South Korea. He sworn in as the President 24 hours post declaration of the election results; this reflects his enthusiasm to take over the reign of the Government and lead South Korea towards a brighter future.

What plans does Moon Jae-in have for South Korea?

Moon Jae-in, a former human rights lawyer and son of North Korean refugee vowed to address the economy and security issues that South Korea is facing today. He promised to exterminate “chaebol” run and corruption ri1dden politics, along with unification of the divided nation. He hopes to rekindle dialogue with North Korea which came to a standstill during the term of the former President Park Geun-hye. In his Presidential address he also expressed an egalitarian future for the country.

Challenges

Though Mr Moon had expressed his intention to adopt the negotiation approach with North Korea, the effectiveness of the same is questionable. His idea of diplomacy and dialogue may lead to tension in relations with the USA.

Unemployment is a major concern that South Korea is facing today. The youth are angry, frustrated and jobless. This has had a negative impact on the economy as well. Mr Moon will have to focus not just on international issues but also address internal conflicts. He will have to adopt and bring about policies that guarantee employment and security.

With China challenging the electronics and digital markets, Mr Moon would have to secure the markets to maintain South Korean presence in the electronics industry.

International Reactions

Sean Spicer the press secretary of White House congratulated Mr Moon and hopes to "strengthen the alliance" and “deepen the enduring friendship and partnership" between the two countries. Shinzo Abe the Japanese Prime Minister while congratulating Mr Moon also expressed his concerns over North Korea and hoped for cooperation between Japan and South Korea in maintain peace and prosperity in the Korean Peninsula. President Xi Jinping of China also expressed his willingness to diligently working with South Korea.

Assessment

Amidst the confusion over corruption, national security issues, economic crisis in South Korea, President Moon Jae-in coming into power has raised hopes of better governance and future in the country. Mr Moon has a number of hurdles to cross on his path to achieve a secured future for the country. He would have to immediately stabilize the economy and address the concerns of the citizens along with concentrating on the ongoing nuclear threat against the national security.  Mr Moon’s diplomatic approach towards the North Korean issue and the criticisms against the American approach towards the same has raised suspicion of the president’s anti-American stance. USA has been a close ally of South Korea; Mr Moon’s policies could alter this relation and change the geopolitics in the Korean Peninsula.