Wednesday’s election dealt a crushing humiliating blow to South Korea’s ruling Saenuri Party as the conservative party is now poised to lose the first rank as well as the majority seat in the 300-member legislative for the first time in 16 years.

Including constituency and proportional representatives, the main opposition Minjoo Party of Korea secured 123 seats, Saenuri Party 122 seats, splinter opposition People’s Party 38 seats, leftist Justice Party six and independents 11 seats from the general election to form 20th legislative.

The ruling party had been confident of maintaining a majority after the main opposition was divided into two, but its fall from grace came after public display of political vendetta and in-house fracas between the factions dubbed to be loyal and not to President Park Geun-hye over nominating candidates for the election. Park as result may have to enter a lame-duck period even with more than a year and half left before the next presidential election.

The surprise setback will likely further undermine Park’s economic agenda that includes deregulations, labor reform, and promotions in the contentious services sector necessarily to provide traction for stubbornly slow-moving economy as well as the ruling party’s chances of sustaining governing rule through the next presidential election. Oh Se-hoon, a strong conservative party candidate for next presidency, lost by a landslide margin to the Minjoo Party’s Chung Se-kyun. Kim Moo-sung, head of the Saenuri Party, offered to resign to take responsibility for the election outcome. The conservative party could instead court public favorite - United Nations Secretary General Ban Ki-moon - for the next presidency.

Despite its better-than-expected results, the Minjoo Party also faces upheaval as the splinter People’s Party led by popular Ahn Cheol-soo proved to have fared well to safely secure seats as a floor-leading competitor. The party’s defeat in Jeolla base - the long-standing traditional base for the liberal opposition camp - would pose as a setback to Moon Jae-in in his second attempt for presidency.

By Shin Heon-cheol

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]