Opposition leader Lee Jae-myung was sworn in as South Korea’s next president on Wednesday following a dramatic snap election six months after the country’s previous leader declared martial law and plunged the nation into chaos.

Kim Moon-soo's concession means Democratic Party candidate Lee Jae-myung has won the election to be South Korea's next leader. In a speech just concluded, Lee vowed to restore the country's economy and to make peace in the Korean peninsula.

Democratic Party candidate Lee Jae-myung was on track to win the South Korean presidential election by a landslide early Wednesday morning, with a massive lead after almost all votes had been counted.