(Bloomberg) Park Geun-hye’s unprecedented ouster last month triggered a special election set for May 9. Late Monday, frontrunner Moon Jae-in was confirmed as the candidate for the left-leaning Democratic Party of Korea, and Ahn Cheol-soo has all but sealed the nomination for his center-left People’s Party. Hong Joon-pyo will represent Park’s right-wing Liberty Korea Party.
Whoever wins faces a slew of challenges: Stagnating economic growth, North Korean nuclear threats, Chinese retaliation over the deployment of a U.S. missile-defense system, and reforming the family-run conglomerates, or chaebol, that contributed to Park’s downfall.
Source: by Kanga Kong, Bloomberg