Lee Jae-myung has served as South Korea’s president since his June 2025 election victory, securing a five-year term that extends well beyond 2026 under the constitution. His Democratic Party maintained momentum in the June 2026 local elections despite opposition gains in key races such as Seoul’s mayoralty, while approval ratings stayed near or above 50 percent for most of his first year despite a recent dip tied to administrative issues. No credible legislative moves, court actions, or party challenges have emerged to shorten his tenure, and historical patterns show South Korean presidents rarely face removal outside major constitutional crises. Traders price the low probability of an exit this year on this institutional stability and absence of immediate political catalysts.