South Korea elects pro-crypto candidate Lee Jae-myung as president

Lee Jae-myung has plans to enable the state pension fund to invest in crypto, approve Bitcoin ETFs, and launch a Korean won-backed stablecoin.

South Korea’s opposition leader Lee Jae-myung has been sworn in as president following a decisive snap election victory, after campaigning on a platform that included a range of pro-crypto policies.

Lee claimed victory in the June 3 election held six months after the country’s previous leader, Yoon Suk-yeol, declared martial law and threw the nation into political chaos.

With 99% of the votes counted on June 4, the center-left Democratic Party’s Lee fetched over 49% of votes against the 41% won by rival conservative People Power Party candidate Kim Moon-soo, according to National Election Commission data.

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