The head of the opposition of South Korea, Lee Jae-Myung, was sworn in as president following a decisive victory during an early election, after promising a series of pro-Crypto policies during his campaign.
Lee won the victory in the June 3 elections was held six months after the former head of the country, Yoon Suk-Yol, said martial law and launched the nation in political chaos.
With 99% of the votes counted on June 4, the Lee of the Democratic Party of the Center recovered more than 49% of the votes against the 41% won by the candidate of the Power of Power of the Conservative People Rival Kim Moon-Soo, according to data from the National Elections Commission.
Reuters reported that almost 80% of the 44.4 million eligible voters in South Korea have voted their highest vote for a presidential election since 1997.
The founder of Satoshi Action Fund, Dennis Porter, who was in South Korea on election day, said that the participation figure was “wild”, noting that Lee is committed to allowing Bitcoin (BTC) in South Korea in South Korea and also promised to allow the launch of Bitcoin exchange funds (ETFs).
Lee also has ambitions to launch a Korean backstroke to modernize the country’s financial system and STEM capital outings.
“We have to establish a Stable-Cache market supported by Gagné to prevent the national wealth from fleeing abroad,” he said during a political discussion in May.
Kim also carried out a campaign which supported the launch of the Sprot Crypto ETF and has committed to facilitate regulations and extend the adoption of cryptography.
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Bitcoin prices increased to 149,000 wons ($ 108,480) on the country’s main exchanges, Bithumb and Upbit, while the so-called Kimchi Premium saw the shopping almost 2% higher than world exchanges, where it exceeded about $ 106,600 before retiring slightly.
Lee to also tackle the raft of political decisions
Lee takes office while South Korea is faced with significant challenges, including economic difficulties against the increase in subsistence costs, the trade negotiations in progress with American and regional geopolitical tensions.
It is not clear to what extent it prioritizes its promises linked to the crypto, but by addressing crowds of supporters in the country’s capital in Seoul, Lee promised to “work to restore the economy” from the first day and to ensure that military coups are a thing of the past.
Lee has promised to focus on economic recovery by increased investments in artificial intelligence and defense, depoliticizing the pursuit system and introducing social changes, including a week of work of four and a half days.
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