South Korea's liberal leader Lee Jae-myung is set to assume the presidency Wednesday, taking the helm of a nation deeply divided after his predecessor's disastrous attempt to declare martial law.

Lee won a thumping victory over conservative Kim Moon-soo, of disgraced ex-president Yoon Suk Yeol's former party, with Kim conceding early Wednesday as final votes were still being counted. Official results showed he had no chance of winning.

In a regular presidential election, South Korea allows for a months-long transition period.

But as Lee's victory came in a snap election after Yoon's impeachment, his term starts immediately after the National Election Commission certifies the vote tally -- expected early Wednesday.

He is set to assume office with a bulging in-tray, from sluggish growth

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