South Korea's New President Sworn in After Pro-Crypto Campaign

South Korea's opposition leader Lee Jae-myung has become the new president after winning a snap election with pro-crypto policies. The election, held on June 3, saw Lee secure over 49% of the votes against his rival. Lee has pledged to allow the national pension fund to invest in Bitcoin, launch Bitcoin ETFs, and introduce a Korean Won-backed stablecoin. His opponent, Kim, also supported crypto initiatives. Following the election, Bitcoin prices surged in South Korea due to the kimchi premium. Lee faces challenges like economic struggles and geopolitical tensions. While it remains uncertain how he will prioritize his crypto promises, Lee has vowed to focus on economic recovery, AI investment, and social changes. The new president aims to bring stability and progress to South Korea, promising to address various issues from day one of his term. Read more AI-generated news on: https://app.chaingpt.org/news