Lee Jae-myung has won South Korea's presidential election, preliminary exit poll results show, AFP reports.

The Democratic Party candidate has a large lead. Voter turnout is high after months of political turmoil. Six months after former President Yoon Suk-yeol plunged the country into crisis with his disastrous declaration of martial law, polls by South Korea's three largest television stations show Lee with 51.7% of the vote. His conservative rival Kim Moon-soo is on track to win 39.3%, the data shows.

After months of turmoil and a succession of interim leaders, many South Koreans are eager for the country to move forward, with key polls for weeks giving Lee a significant lead over Kim.

South Korea's next president will take office as soon as the National Election Commission finishes counting the votes and confirms the results, which is likely to happen on Wednesday morning. He will face a number of challenges, including global trade fluctuations affecting the economy, one of the world's lowest birth rates, and an emboldened North Korea that is rapidly expanding its military arsenal. | BGNES