Oh Se-hoon, the People Power Party candidate, returned to City Hall on Wednesday after defeating Jung Won-oh of the Democratic Party of Korea, claiming the title of the first five-term Seoul mayor in history. While the Democratic Party held the upper hand in the election by securing 12 of 16 metropolitan leadership posts, the People Power Party won in key battlegrounds such as Seoul, in what analysts described as a clear display of voters' desire to check the dominant ruling bloc.
According to the National Election Commission, Mayor-elect Oh received 2,560,590 votes (49.15%), edging out Jung, who recorded 2,507,130 votes (48.13%), by a margin of 53,460 votes.
Oh, who throughout the campaign directly criticized the Lee Jae-myung administration's property policy and put forward a "judgment" argument, won overwhelming support in the Han River belt region, including Gangnam's three districts where high-priced apartments are concentrated. Analysts said the contest was decided by resentment toward the government's property regulation stance, including stronger holding taxes, and expectations for Oh's pledge to revitalize redevelopment projects.
Oh himself emphasized property sentiment as a factor in his victory. "Seoul's biggest pending issue is the property problem," he said. "With jeonse (a Korean lease system requiring a large lump-sum deposit instead of monthly rent) supply plunging and monthly rents surging, many ordinary citizens are suffering severe hardship." He added, "This is a side effect of the government pursuing property policies with the election in mind," and said, "I will attend the cabinet meeting and convey this public sentiment to the president and ministers."
In the National Assembly by-elections, the Democratic Party also fell short of expectations. Of the 14 constituencies, the Democratic Party won nine, the People Power Party four, and an independent one. Among them, in Busan Buk-A, considered a battleground, independent candidate Han Dong-hoon won, while in Gyeonggi Pyeongtaek-B, People Power Party candidate Yoo Eui-dong was elected following conflict within the broader ruling bloc.
The ruling bloc could not hide its disappointment. Democratic Party leader Jung Chung-rae said, "I deeply thank the people for giving the Democratic Party a great victory nationwide," but added, "It is regrettable that we failed to retake Seoul."
Meanwhile, Oh, who has claimed the title of the first five-term mayor, is seen by analysts as having vaulted into the ranks of next presidential contenders. At the same time, he is expected to wield considerable influence over the realignment of the conservative camp. "Whatever meaning the public assigns to it, I will do my best and remain faithful as Seoul mayor," he said.
