Foreign Media: "Yoon Expected to Enter Lame Duck Period Due to Crushing Defeat in General Election... Focus on Diplomatic Policy Anticipated"

Bloomberg "If the opposition exceeds 200 seats, it could end the regime"
NYT "Midterm evaluation nature... loss of momentum on domestic issues"

As the People Power Party is evaluated to have suffered a crushing defeat in the 22nd general election, foreign media outlets also rushed to report on the domestic election news. Foreign media assessed that the overwhelming victory of the opposition coalition could lead President Yoon Seok-yeol to fall into a lame-duck status during the remaining three years of his term.

[Image source=Yonhap News]

On the 10th (local time), Bloomberg News reported, "Exit polls indicate that the ruling party is expected to lose seats," adding, "President Yoon's conservative alliance has suffered a major setback in the general election, and his position will be significantly weakened during the remaining three years of his term."

Bloomberg analyzed that President Yoon has failed to expand his support base since the 2022 presidential election and may fall into a lame-duck situation in the future. The news agency stated, "If the opposition coalition led by the Democratic Party secures 200 seats, they can amend the constitution, nullify the president's veto power, and approve impeachment motions," predicting, "This would effectively tie the hands of the Yoon administration and could even bring the regime to an end."

It also forecasted a high possibility that investor-friendly policies promoted by the Yoon administration, such as the abolition of capital gains tax and the Value-Up program, could be derailed. However, it expected that diplomatic policies not requiring parliamentary approval, such as the close security cooperation among South Korea, the U.S., and Japan, and a hardline stance toward North Korea, would remain unaffected by the election results.

Reuters also viewed that President Yoon would fall into a lame-duck status after the general election. Citing Mason Riche, a professor at Hankuk University of Foreign Studies, the agency said, "There is a possibility that President Yoon will be in a lame-duck state," and "President Yoon will likely feel the temptation to focus on foreign policy, where he still holds legal authority."

The U.S. daily The New York Times (NYT) also reported that the election results serve as a midterm evaluation of President Yoon.

The newspaper stated, "Wednesday's vote is a major test for President Yoon, who is deadlocked on domestic issues," and "The general election results will determine the composition of the National Assembly for the next four years and also serve as an evaluation of the two leaders."

It further noted that domestic issues driven by President Yoon, such as corporate tax cuts, business-friendly policies, and the expansion of medical school quotas, may lose momentum.

The NYT also diagnosed that this election was more about choosing the lesser evil than competing on pledges. Quoting an expert, the paper said, "No pledges or policies became issues in this election," adding, "I have never seen an election like this."

Meanwhile, in the 22nd general election held on the 10th, the opposition coalition, including the Democratic Party and the People's Innovation Party, is expected to secure more than 180 seats. The Democratic Party will once again dominate the National Assembly with an outright majority, following the 21st general election.