New Delhi, June 3 -- Liberal opposition leader Lee Jae-myung has been elected president of South Korea, multiple South Korean media outlets reported on Tuesday (June 3). With 93% of the ballots counted, Lee had 48.66% of the vote, ahead of his main conservative rival Kim Moon Soo, who garnered 42.26%.

"I humbly accept the people's choice," Kim told journalists, conceding defeat even before the final tally. "I congratulate President-elect Lee and wish him success."

Lee's victory brings to an end months of political upheaval triggered by the short-lived martial law imposed by ousted conservative President Yoon Suk Yeol.

Lee, a former child laborer, rose to political prominence as mayor of Seongnam and later as governor of Gyeonggi provin...