Lee Jae-myung Inaugurates as South Korean President, Promotes 'Practical Diplomacy' and Launches Emergency Economic Task Force

(Korea, 4th) South Korean President Lee Jae-myung was officially inaugurated at approximately 11 a.m. local time on the 4th in the National Assembly.
In his inaugural speech, Lee Jae-myung stated that he will implement 'practical diplomacy' to maximize national interests and announced the launch of an emergency economic task force, relying on national finances to achieve a virtuous economic cycle.
The South Korean Ministry of the Interior and Safety reported that about 300 people, including the Speaker of the National Assembly, key officials, party representatives, members of the National Assembly, and state councilors, attended the inauguration ceremony.
The South Korean Central Election Management Committee held a full meeting on the morning of the 4th to officially confirm that Lee Jae-myung, the candidate from the Democratic Party of Korea, was elected as the 21st President of South Korea, immediately commencing his presidential term.
South Korea held the presidential election on the 3rd, and according to the vote results released by the Central Election Management Committee on the 4th, Lee Jae-myung received 49.42% of the votes in this presidential election, compared to 41.15% for Kim Min-soo, the candidate from the People Power Party, and 8.34% for Lee Jun-seok, the candidate from the Reform New Party.
Kim Min-soo conceded defeat at 1:36 a.m. on the 4th and congratulated Lee Jae-myung.

Lee Jae-myung arrived at the National Assembly in Yeouido early in the morning to deliver a speech thanking the citizens.
He stated that uniting the people is necessary, with the most clear-cut task being the revival of the economy and the restoration of livelihoods.
He also expressed the intention to seek dialogue, coexistence, and shared prosperity between the two Koreas.
This election marks the second time since the constitutional reform in 1987 that South Korea elected a president in the absence of a sitting president, with the elected president taking office immediately upon the official announcement of the election results.