Seoul Election Loss Prompts Presidential Shake-up, New Prime Minister Imminent

The presidential office faces a somber mood following the ruling party's defeat in the Seoul mayoral election, a key blow despite victories in other local races. President Lee Jae-myung acknowledged the public's sentiment, stating a commitment to cooperate with local governments regardless of party affiliation. "All elections are opportunities to confirm the diverse voices of the people," said Kang Yoo-jung, senior presidential secretary for political affairs. "We will embrace the public's will and use this as a chance to stabilize livelihoods and foster national unity."

The loss in Seoul, especially in affluent southern districts, is seen as a significant setback, particularly as it coincides with the first anniversary of the Lee administration. The election results amplify concerns about the government's real estate policies, a central campaign issue for the winning candidate, Oh Se-hoon. Oh had vowed to oppose government policies in cabinet meetings, a prospect that adds to the administration's unease.

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We will embrace the public's will and use this as a chance to stabilize livelihoods and foster national unity.

To address the situation, President Lee is expected to initiate a cabinet reshuffle and reorganize presidential staff, beginning with the announcement of a new prime minister as early as May 5. The current Prime Minister, Kim Min-seok, is stepping down to run in the Democratic Party's national convention in August. Top contenders for the prime ministership include Chief of Staff Kang Hoon-sik, Justice Minister Jeong Seong-ho, and Minister of SMEs and Startups Han Sung-sook. Han, a former CEO of Naver, would be the first female prime minister since Han Myeong-sook, adding symbolic weight to the appointment.

The reshuffle is anticipated to trigger a series of changes within the cabinet and presidential office. Some key staff members, including Senior Secretary for Civil Affairs Bong Wook and Senior Secretary for Public Communication and Information Lee Gyu-yeon, are reportedly undergoing vetting for their successors. While a cabinet reshuffle is imminent, the scope is expected to be limited, with projections suggesting only three to four ministerial positions will change.

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Seoul is the most important, but we could not overcome the real estate wall in the four districts of Gangnam.