**President Lee Jae-myung, who took office in June 2025 following the prior administration’s removal, maintains a firm hold on the presidency into late 2026.** His Democratic Party secured a clear majority of key local and by-election contests in June 2026, despite localized ballot-management controversies that contributed to a decline in his approval ratings to the low-to-mid 40s in recent polls. The administration has prioritized semiconductor and AI investment initiatives, defense cooperation, and diplomatic engagement, including high-level talks with U.S. leadership, while the main opposition remains fragmented and associated with the previous turmoil. South Korea’s single five-year presidential term and the absence of active impeachment proceedings, resignation signals, or significant legislative challenges further support trader consensus that Lee will complete the year in office.