The South Korean stock market and the won rose, and Lee Jae-myung won in the country's presidential election as widely anticipated, ending a months-long power vacuum. South Korea's benchmark Kospi Index rose 1.5% on Wednesday, and the won rose 0.3% against the US dollar. The election results removed one of the biggest uncertainties affecting the local market, namely the direction of the country's political situation after former President Yoon Seok-yeol was impeached for briefly imposing martial law last year. The market focus is now on Lee Jae-ming's policies to boost economic growth, focusing on increasing government spending, improving corporate governance, strengthening labor protection, and completing ongoing tariff negotiations and exchange rate negotiations with the Trump administration. The South Korean economy contracted in the first quarter, showing fatigue long before Trump announced tariff increases in early April.

The South Korean stock market and the won rose, and Lee Jae-myung won in the country's presidential election as widely anticipated, ending a months-long power vacuum. South Korea's benchmark Kospi Index rose 1.5% on Wednesday, and the won rose 0.3% against the US dollar. The election results removed one of the biggest uncertainties affecting the local market, namely the direction of the country's political situation after former President Yoon Seok-yeol was impeached for briefly imposing martial law last year. The market focus is now on Lee Jae-ming's policies to boost economic growth, focusing on increasing government spending, improving corporate governance, strengthening labor protection, and completing ongoing tariff negotiations and exchange rate negotiations with the Trump administration. The South Korean economy contracted in the first quarter, showing fatigue long before Trump announced tariff increases in early April.