South Korea: Ruling party wins polls amid North Korea tension | seattlepi.com

South Korea’s ruling party claimed a majority Thursday in a parliamentary vote that centered on domestic issues but had implications for Seoul’s relationship with the North. President Lee Myung-bak’s conservative Saenuri Party was expected to win at least 152 seats while his liberal rivals were set to claim 140 in the race for 300 parliamentary seats, the National Election Commission said with 1 percent of ballots left uncounted. South Koreans went to the polls a day earlier. Ties between the two Koreas plummeted during Lee’s tenure, with two attacks Seoul blames on Pyongyang killing 50 South Koreans in 2010. North Korea also conducted a long-range rocket launch and tested a nuclear device in 2009.

South Korea: Voting continues in crucial parliamentary elections | Yonhap News

Voters flocked to polling stations Wednesday in tightly contested general elections that could strip President Lee Myung-bak’s ruling party of its control of parliament and set a crucial tone for December’s vote to pick his successor. The quadrennial poll is to elect a new 300-member National Assembly, but it takes on extra significance as the results are likely to affect the presidential election just eight months away. It is the first time in 20 years the two big elections take place in the same year. The National Assembly will be comprised of 246 directly contested seats and 56 proportional representation seats to be allocated to parties according to the total numbers of votes they receive. Each voter is asked to cast two ballots, one for a candidate and the other for a party.

South Korea: High squid prices test South Korea’s politicians | Financial Times

As he sells his squid at the Jagalchi fish market in the southern port of Busan, Chang Ho-bin is happy to explain why he will be voting against South Korea’s ruling party in Wednesday’s parliamentary elections. The 33-year-old fishmonger says the government has promoted policies that have helped big companies such as Samsung but driven up living costs for ordinary consumers who cannot afford to buy his squid, which costs Won45,000 ($40) a box, more than double its price from two years ago. “President Lee Myung-bak and the ruling conservatives did not manage the economy properly,” he grumbles as a woman nearby returns an escaping red octopus to its bucket. “They supported big conglomerates but forgot small business. Prices have got too high for people on lower incomes.”

South Korea: Ruling Party Risks Parliament Election Loss | Businessweek

South Korean President Lee Myung Bak’s ruling party faces losing control of parliament next week to an opposition that vows to increase welfare spending, revisit a U.S. trade deal and improve ties with North Korea. The New Frontier Party is struggling to overcome bribery and illegal surveillance scandals ahead of April 11’s National Assembly elections that may forecast the December presidential race. The opposition Democratic United Party has pledged to create 3.3 million jobs and may get a boost from younger voters who face an unemployment rate almost twice the national average. Asia’s fourth-largest economy has had slower growth and higher inflation under Lee than his predecessor, contributing to a 50 percent drop in his popularity. Relations have also worsened with North Korea, who plans to fire a long-range rocket between April 12 and 16 would scuttle a food aid agreement with the Obama administration. “An opposition victory will hasten Lee’s position as a lame duck,” said Lee Nae Young, a political science professor at Korea University in Seoul. “Regardless of who wins, we could see many welfare policies enacted before Lee’s term ends, as parties try to improve the odds for December.”