Seoul: In a historic shift, Lee Jae-myung has been sworn in as South Korea's new president, pledging to rejuvenate the nation's democracy and economy following the upheaval caused by former President Yoon Suk Yeol's failed martial law attempt.

Lee, representing the liberal Democratic Party, secured 49.42% of the vote in a snap election marked by the highest turnout since 1997. His victory reflects public desire for change and stability after a period of political turmoil.

In his inauguration speech, Lee emphasized pragmatic, pro-market policies aimed at economic deregulation and innovation. He also expressed a commitment to renewing dialogue with North Korea while reinforcing the U.S. security alliance. "It is better to win without fighting than to win in a fight, and peace with no need to fight is the best security," Lee stated, highlighting his approach to inter-Korean relations.

Lee's administration faces immediate challenges, including addressing trade negotiations with the U.S., managing relations with China and Japan, and implementing policies to support small businesses and control the cost of living. His nomination of Kim Min-seok, an early critic of Yoon's martial law ambitions, as Prime Minister signals a commitment to democratic principles and reform.

International reactions to Lee's election have been positive, with the U.S. reaffirming its commitment to the alliance and other global leaders expressing support for South Korea's democratic transition.

As President Lee embarks on his term, the nation watches closely to see how his policies will shape South Korea's future domestically and on the global stage.