Bloomberg Daybreak: Asia Edition

South Korea's Lee Sworn In, Stocks Rise on US Jobs Data

Jun 4, 2025
Rachel Minyoung Lee, a Senior Fellow at the Stimson Center, discusses the political repercussions of Lee Jae-myung's election in South Korea, focusing on anticipated reforms and foreign policy shifts amidst a divided political climate. Brad Bernstein, Managing Director at UBS, shares insights on the resilience of the U.S. labor market, highlighting unexpected job growth and its implications for the Federal Reserve's strategy in the face of trade tensions. Both guests explore how these developments impact the global economy.
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INSIGHT

Challenges of National Unity

  • President Lee faces a deeply divided South Korea politically and demographically.
  • Bridging gaps between genders and generations will be a major challenge for his leadership.
INSIGHT

Shift in Foreign Policy Focus

  • President Lee aims for a balanced foreign policy between the U.S. and China.
  • He intends to mend ties with China and North Korea while taking a more balanced approach to Japan.
INSIGHT

Strong Mandate for Reform

  • Lee Jae-myung won nearly 50% of votes with highest turnout in 28 years.
  • His Democratic Party also controls the National Assembly, positioning him strongly for reforms.
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