South Korean voters vote for new president

South Koreans began heading to the polls this morning to elect a new leader for the country following the political scandal that led to the ouster of former president Park Geun Hye.

South Koreans vote for new president. Photo: Reuters

Reuters news agency quoted experts as saying that if there are no major disruptions, candidate Moon Jae In will be elected president.

Mr Moon, who has called for a moderate approach to North Korea, wants to reform family-run conglomerates and increase fiscal spending to create jobs.

The early vote was aimed at ending months of failed leadership. In March, Ms Park was ousted for bribery and abuse of power, becoming South Korea’s first democratically elected president to be forced from office.

Ms. Park is currently in custody and facing trial. However, Ms. Park still denies any wrongdoing.

Mr Moon, who narrowly lost to Ms Park in the last presidential election, has criticised the previous conservative government for failing to stop Pyongyang from developing nuclear weapons. Mr Moon favours a policy of dialogue but maintains pressure and sanctions on North Korea to encourage change.

A Gallup Korea pre-election poll last week showed Moon with 38 percent of voters’ support among 13 presidential candidates, with Ahn Cheol Soo in second place with 20 percent.

A decisive victory for Mr Moon would help provide much-needed stability and is expected to improve market sentiment in Asia's fourth-largest economy.

Polling stations officially opened at 6am on May 9 in Korea (4am Vietnam time) and will close at 8pm the same day (6pm Vietnam time).

The winner of South Korea's presidential election is expected to be sworn in on May 10 after the Election Commission announces official results.

The new leader is expected to quickly name a prime minister and other key cabinet positions, including finance minister and national security minister.

According to Tuoi Tre