Lee Jae-myung delivers victory speech; pledges to end insurrection and boost economy

South Korea is due to embark afresh under a brand new government to be formed by the Democratic Party's Lee Jae-myung, after he officially claimed victory in the 21st presidential election.

Our Shin Ha-young begins our coverage.

New President-elect Lee Jae-myung of the Democratic Party of Korea delivered a victory speech on Wednesday, where he said he would not forget the mission entrusted to him and promised to carry it out faithfully.

In his remarks, as his first mission, Lee said he would be overcoming what he described as an insurrection.

The DP has been calling former President Yoon Suk Yeol's brief imposition of martial law an act of "insurrection" that undermined the constitutional order.

"My first mission, entrusted to me by you, is to end the insurrection and prevent any future military coups. I will restore democracy and build a nation where people live together with respect and cooperation, and with understanding and cooperation instead of hatred and hostility. I promise to fulfill this mission without fail."

Lee stressed that presidential power comes from the people.

He also reaffirmed his commitment to reviving the economy and improving people's livelihoods.

Among his pledges, he called for a peaceful and coexistent Korean Peninsula.

During his speech, Lee reiterated his commitment to national unity a message he has consistently emphasized throughout his campaign.

"Even if we disagreed before, everyone is still a citizen of South Korea. We may have different opinions and wear different colors, but now we're all united as one great nation. Let's go together!"

On Tuesday, Lee remained at his home in Incheon's Gyeyang-gu District, even during the announcement of the exit polls, which projected him to win with 51-point-7 percent of the vote.

But once his victory became more certain, he left to visit the party's main headquarters to thank party members.

He then headed to Yeouido, where the party held a public event attended by party members and supporters who gathered to watch the vote count together.

Shin Ha-young, Arirang News.