Seoul: Acting President Han Duck-soo resigned Thursday, indicating he would run for the June 3 presidential election. Han announced his decision in an address to the nation, ending weeks of speculation over whether he would enter the election triggered by the impeachment of his former boss -- former President Yoon Suk Yeol.
According to Yonhap News Agency, Han expressed that the gravity of the nation's current situation and his sense of responsibility prompted his decision. "Thinking of the weight of the responsibility I carry at this grave time, after thinking long and carefully about whether such a decision is in fact right and inevitable, I decided that if this is the only way, I must take it," he stated from the government complex in Seoul. Having served as the prime minister under both liberal and conservative presidents and as the South Korean ambassador to the United States, Han has been a favorite among conservatives to challenge Lee Jae-myung, the presidential candidate of the liberal Democratic Party.
Lee Jae-myung currently holds a significant lead over his competitors with approximately 40 percent support in public opinion polls. During his live televised address, Han elaborated on his decision, saying, "I have two roads in front of me. One is to complete the important mission I currently have, while the other is to lay down that important mission and bear a greater responsibility."
Han emphasized his intent to step down to address the crisis facing the nation, citing extreme political confrontation and the threat it poses to the country's economy and industries. His presidential bid announcement is expected on Friday, which may lead to merger talks with the conservative People Power Party (PPP). The PPP's presidential candidate is set to be chosen on Saturday, with former PPP leader Han Dong-hoon and former Labor Minister Kim Moon-soo expressing openness to merging candidacies with Han.
The PPP is considering multiple deadlines to finalize the merger to enhance its prospects in the June 3 election. Key dates include May 7 for the National Election Commission to order printed materials, May 11 for candidate registration, and May 25 for the start of ballot printing.
In the interim, Finance Minister and Deputy Prime Minister for Economic Affairs Choi Sang-mok will assume the role of acting president following Han's resignation.