During May's televised debate ahead of the South Korean presidential election, Democratic Party candidate Lee Jae-myung was asked about the pro-labor "Yellow Envelope Act." Lee, who was elected as the country's 21st state head Tuesday,

South Korea’s presidential election result was never really in doubt. The real question is which version of Lee Jae-myung will now govern the highly polarized nation of 50 million.

Kim Moon-soo's concession means Democratic Party candidate Lee Jae-myung has won the election to be South Korea's next leader. In a speech just concluded, Lee vowed to restore the country's economy and to make peace in the Korean peninsula.