South Korea's new President Lee Jae-myung vowed to reach out to the nuclear-armed North and "heal wounds" as he took office Wednesday, after winning snap elections triggered by his predecessor's disastrous martial law declaration.

South Korea's new centre-left leader also warned that "rising protectionism and supply chain restructuring" posed an existential threat to Asia's export-dependent fourth-largest economy, which has been buffeted by the global trade chaos sparked by US President Donald Trump.

Lee scored a thumping victory over conservative Kim Moon-soo, of disgraced ex-president Yoon Suk Yeol's former party, in snap elections, with his term beginning immediately after the vote tally was certified early Wednesday.

Lee secured 49.4 percent of the vote, far ahead of the 41.2 percen

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