PPP's Kim Moon-soo accepts defeat in 21st presidential election

Now, to the PPP's headquarters.

Our correspondent Kim Do-yeon is on the line.

Do-yeon, has Kim Moon-soo delivered his concession speech?

Jung-min, just a few moments ago People Power Party candidate Kim Moon-soo came here to the party's headquarters across the street from the National Assembly to officially accept defeat in the election.

He first accepted the defeat and then congratulated his rival Lee Jae-myung on the win.

He offered his thanks for the support he received.

His message was short, and after wrapping up, he didn't take any questions but shook hands with the camp members and the media and left the briefing room.

The media had been waiting since early in the evening for Kim to emerge and concede defeat.

At about 30 past midnight, the reporters in the situation room were notified that Kim would be coming to the campaign headquarters to face the media, but after arriving at around 1:20 AM, he waited for Lee Jae-myung to finish his victory speech down the street.

As for the campaign's election night, with the exit polls showing a double-digit gap, the mood inside the PPP camp remained subdued and somber throughout.

The campaign, still grappling with the fallout from the martial law declaration and the impeachment of former President Yoon Suk Yeol, tried to carefully balance its message — aiming not to upset Yoon and the party's loyal base while also reaching out to undecided voters by creating some distance from Yoon.

Kim had trailed his rival Lee Jae-myung throughout the campaign sometimes in double digits in polls.

And while the final count isn't in yet, he managed to narrow the gap — avoiding a double-digit loss in the end.

Thanks for the latest.