South Koreans Vote for New President After Months of Political Vacuum

Seoul: South Koreans began voting on Tuesday to elect a new leader, looking to move on from a corruption scandal that brought down former President Park Geun-hye and shook the political and business elite to the core.

Unless there is a major upset, liberal Moon Jae-in — who calls for a moderate approach on North Korea, wants to reform powerful family-run conglomerates and boost fiscal spending to create jobs — will be elected president.

Moon, who lost to Park narrowly in the last presidential election in 2012, has criticised the two former conservative governments for failing to stop North Korea's weapons development. He advocates a two-track policy of dialogue while maintaining pressure and sanctions to encourage change.

Moon told reporters after casting his ballot he had "given the campaign his all", and urged South Koreans to vote.

Ahn, who voted earlier at a different polling station, said he would wait for the people's "wise decision". Other presidential candidates were also seen voting early in the day.

One in every four voters cast ballots in early voting last week, and officials think higher participation by younger people could drive turnout to the highest in three decades.

A decisive win by Moon will provide much-needed stability and is expected to improve market sentiment at a time when robust exports have supported a recovery in Asia's fourth-largest economy.

South Korean financial markets are closed on Tuesday but will resume trade on Wednesday.

The winner is expected to be sworn in on Wednesday, after the Election Commission releases the official result.

The new leader is expected to quickly name a prime minister, who will need parliamentary approval, and main cabinet positions, including national security and finance ministers, which do not need parliamentary confirmation.

'NEW ERA'

The election is being watched closely by allies and neighbours at a time of high tension over North Korea's accelerating development of weapons since it conducted its fourth nuclear test in January last year. Pyongyang carried out a fifth test in September and is believed ready for another.

US President Donald Trump has vowed to stop North Korea developing a nuclear missile that can hit the United States.

"We as the same race should gather our strength to open a new era of independent reunification. To do so, the puppet conservative group's move to remain in power should be definitely crushed," it said.

The US State Department said Washington looked forward to continuing "close, constructive, deep cooperation" with South Korea's new president.

"We will continue to meet all our alliance commitments, especially with respect to defending against the threat from North Korea," State Department spokeswoman Katina Adams told Yonhap News Agency on Monday.

Park had decided not to vote, despite having the right to do so because she has not been convicted, media reported. An official at the detention centre where she is being held declined to comment, citing her privacy.

The polls opened at 6 am (2:30am IST on Tuesday) and will close at 8 pm (4:30pm IST).