South Korea PM 'offers to resign' after crushing defeat

South Korea’s liberal opposition party has won by a landslide in parliamentary elections – with senior ruling party politicians reportedly offering to resign following the crushing defeat.

Election officials count votes in Seoul. Pic: Kyodo via AP

The results of Wednesday’s election are a huge political blow to President Yoon Suk Yeol, who has three years left in office.

Prime Minister Han Duck-soo and Mr Yoon’s top advisers tendered their resignations, according to South Korean media, including Yonhap news agency.

South Korea’s Prime Minster Han Duck-soo has reportedly tendered his resignation. Pic: Hwang Kwang-mo/Yonhap via AP

In a separate news conference, Han Dong-hoon, leader of the ruling conservative People Power Party who spearheaded its election campaign, said he would step down to take responsibility for the defeat.

“I apologise to the people on behalf of our party, which wasn’t good enough to win the people’s choices,” he said.

Mr Yoon said he would “humbly” accept the result of the election – widely considered a midterm referendum on his presidency – and pledged to improve people’s economic situations and reform state affairs.

Han Dong-hoon, leader of the ruling People Power Party, said he would step down. Pic: Reuters

With most of the votes counted, the main opposition Democratic Party – led by Lee Jae-myung – and its satellite party appeared to have won a combined 175 seats in the 300-member National Assembly.

Lee Jae-myung, leader of the main opposition Democratic Party. Pic: Reuters

A splinter liberal party considered allied with the DP was expected to take 12 seats, projections showed.

However, the outcome leaves the bloc short of the 200 seats needed for a super-majority which would have given it legislative powers to overturn vetoes and even impeach the president.

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Mr Yoon’s PPP and its satellite party were projected to have obtained 108 seats.

South Korean President Yoon Suk Yeol casts his vote. Pic: Yonhap via Reuters

He has been battling low approval ratings and a liberal opposition-controlled parliament that has limited his major policy platforms.

An official announcement of the results is due later on Thursday.