South Korea's Political Landscape Shifts: Key Resignations and Candidacies

Amid the political and electoral ebb and flow in South Korea, opposition leader Lee Jae-myung stepped down, potentially paving the way for his presidential candidacy. Labour Minister Kim Moon-soon also announced his intention to run for the presidency, marking a significant shift in the political scene.

In a surprising move within South Korea's political sphere, Lee Jae-myung, the head of the main opposition party, announced his resignation as party leader on Wednesday. This decision fuels speculation that Lee, a populist front-runner, will soon declare his candidacy for the presidency, a development keenly anticipated by political analysts.

Simultaneously, Kim Moon-soon, serving as the country's labour minister and a member of the ruling People Power Party, also threw his hat into the presidential ring. Kim's declaration marks him as one of the few from the ruling party willing to vie for the top position, highlighting a shifting tide within the party dynamics.

These announcements are expected to reshape the upcoming electoral battles, as both figureheads are pivotal players within their respective political camps, and their moves set the stage for a potentially fierce contest.

(With inputs from agencies.)