Lee Jae-Myung, who was already leading in the opinion polls ahead of the vote, was also projected to win based on the exit polls conducted by Korean media.
Human rights lawyer and Democratic Party candidate Lee Jae-Myung has won the popular vote and is all set to become the next president of South Korea.
With the voter percentage nearing 80 per cent, the highest it has been in 28 years, South Koreans chose their next president after six months of political turmoil triggered by the country's shortest period of martial law.
Addressing supporters in Seoul, Lee thanked the people for their support and vowed to work towards the unification of the country through dialogue with North Korea. He also vowed to ensure another military coup or repeat of the martial law crisis does not take place.
Where the numbers stand
With 98.20 percent of the votes in, Democratic Party Lee Jae-Myung is set to be president with 49.21 percent of the vote. He will be sworn in as the next president on Wednesday and begin his term immediately.
People Power Party candidate Kim Moon-soo, who conceded defeat, lost the election with a total of 41.45 percent votes.
Win projected in exit polls as well
Lee Jae-Myung, who was already leading in the opinion polls ahead of the vote, was also projected to win based on the exit polls conducted by South Korean media.
As per KBS, Lee Jae-myung garnered 51.7 per cent of the voters, which is 12.4 points higher than the People Power Party's Kim Moon-soo, who stood at 39 per cent.
Reform Party candidate Lee Jun-seok stood at 7.7 per cent of votes in the exit polls.
Who is Lee Jae-myung?
From escaping death last year to going viral for climbing the walls of the National Assembly during martial law, the 61-year-old human rights lawyer is a key figure in South Korean politics in the past few years.
