Oh Se-hoon Wins Record Fifth Term, Vows GTX Opening as Top Priority

Becomes Seoul's First Five-Term Mayor "Will Ensure Mid-August Opening Goes Smoothly" Prioritizes Reconstruction, Easing Rental Housing Crisis

Finance|
|
By Jung Hye-jin
||
[CAPTIONS]
Seoul Mayor-elect Oh Se-hoon shakes hands with supporters as he leaves the Daewang Building in Jongno-gu, Seoul, where his election campaign office is located, around 10 a.m. on the 4th. Reporter Jung Hye-jin
Seoul Mayor-elect Oh Se-hoon delivers his acceptance remarks in front of Seoul City Hall on the 4th. Reporter Jung Hye-jin
Seoul Mayor-elect Oh Se-hoon walks to work at Seoul City Hall in Jung-gu, Seoul, on the 4th. Oh, who overtook Democratic Party candidate Jung Won-oh 13 hours into the vote count, became the first to win a fifth term in the history of Seoul mayoral elections. Reporter Oh Seung-hyun - Seoul Economic Daily Finance News from South Korea
[CAPTIONS] Seoul Mayor-elect Oh Se-hoon shakes hands with supporters as he leaves the Daewang Building in Jongno-gu, Seoul, where his election campaign office is located, around 10 a.m. on the 4th. Reporter Jung Hye-jin Seoul Mayor-elect Oh Se-hoon delivers his acceptance remarks in front of Seoul City Hall on the 4th. Reporter Jung Hye-jin Seoul Mayor-elect Oh Se-hoon walks to work at Seoul City Hall in Jung-gu, Seoul, on the 4th. Oh, who overtook Democratic Party candidate Jung Won-oh 13 hours into the vote count, became the first to win a fifth term in the history of Seoul mayoral elections. Reporter Oh Seung-hyun

Oh Se-hoon, the People Power Party candidate who won the Seoul mayoral election, declared his immediate return to city governance as he became the first five-term mayor in Seoul's history. Oh said he would personally address the cleanup and safety inspection of the rebar omission accident at the GTX construction site at Samseong Station, naming it his top priority. He also stressed that he sees citizens' desires centered on resolving the rental housing crisis and swiftly advancing reconstruction, and that he would focus on these issues.

After delivering his acceptance remarks Friday at the Daewang Building in Seoul's Jongno district, where his campaign office is located, Oh walked about 10 minutes on foot to Seoul City Hall and immediately began the process of returning to work. Trailing in the early ballot count, he succeeded in a late comeback to set the record as the first five-term Seoul mayor in election history. Oh exchanged warm greetings with the many citizens he encountered along the roughly 10-minute walk from Jonggak Station to City Hall. Oh, who said he watched the election results through the night, smiled when a reporter asked when he had sensed his victory, saying, "I had a feeling around 5 a.m."

In his victory speech, Oh said emphatically, "This victory is not a personal victory for me, but a victory for ordinary people hoping to resolve the rental housing crisis, for young people dreaming of fair opportunities, and for citizens who have been waiting for reconstruction." He added, "I will continue without wavering the policies and direction that citizens have chosen."

He singled out real estate issues in particular as Seoul's biggest pending concern. "Many citizens are suffering due to a sharp drop in jeonse (a Korean lease system requiring a large lump-sum deposit instead of monthly rent) supply and surging monthly rents," Oh said, stressing, "At the first cabinet meeting of my term, I will convey citizens' voices to the president and relevant ministries."

As the first issue he would address upon returning to work, he pointed to the rebar omission accident at the GTX construction site at Samseong Station. "Had it not been for the local election period, there would have been no major problem with starting operations in mid-August according to the schedule agreed upon with the Ministry of Land, Infrastructure and Transport," Oh said. "After thoroughly re-inspecting the safety issues, if there are no problems, I will ensure the opening can proceed as originally planned."

null - Seoul Economic Daily Finance News from South Korea

He added, "From what I have understood so far, if reinforcement work proceeds swiftly, I believe there will be no major disruption to starting operations in mid-August," while noting, "I will return to work, inspect once more carefully, and make a final decision on whether to open only after safety is confirmed."

Citing the Seosomun overpass collapse accident that occurred during the election period, Oh also signaled special safety inspections of aging infrastructure and construction sites across Seoul. "Given the great public anxiety, I will launch a high-intensity special safety inspection immediately upon returning to work," he said.

Upon arriving at Seoul City Hall, Oh held a meeting with senior officials and was briefed on major pending issues. As a result, the core city administration projects he has been pursuing—including the Rapid Integrated Planning, the Han River development project, the Walking Together with the Vulnerable initiative, and the Gangbuk Golden Age 2.0—are expected to gain further momentum.

null - Seoul Economic Daily Finance News from South Korea

"During the final four years that citizens have granted me, I will pour all my experience and capabilities into Seoul," Oh said. "I will complete a 'Seoul, a Special City for Quality of Life,' where anyone, no matter where they live, can gain opportunities in proportion to their efforts."

Original reporting by Jung Hye-jin for Seoul Economic Daily.

AI-translated from Korean. Quotes from foreign sources are based on Korean-language reports and may not reflect exact original wording.

AI KEY

Preview
Korean Corporate Intelligence HubKOSPI · KOSDAQ · 12 sectors

A live, cap-weighted view of every KOSPI and KOSDAQ sector, with same-day Korean reporting distilled by company — built for foreign investors, correspondents and analysts who need to scan Korea before the next session.

Korea Chaebol Tree

Preview
Families Behind the GroupsKFTC May 2026 · DART filings

An English-first interactive map of Samsung, SK, Hyundai, LG and Lotte — built for foreign investors, correspondents and analysts. Korea translates companies into English. We translate the families behind them.

SIGNAL

Pre-register
English Edition · Capital MarketsM&A · IPO · PE · Fund Flows

Pre-register for SIGNAL English Edition — a premium subscription bringing Korean capital markets coverage (M&A, IPOs, private equity, fund flows) to global institutional investors. First access to the 50% introductory rate.