SEOUL (Reuters) -South Korea's conservative presidential candidate Kim Moon-soo conceded defeat early on Wednesday in the June 3 snap election. Kim told a press conference that he had congratulated his opponent, liberal candidate Lee Jae-myung, on his election victory.

I humbly accept the people’s choice,” Kim told journalists, conceding defeat even before the final tally. “I congratulate President-elect Lee and wish him success.”

Kim Moon Soo conceded defeat in South Korea's presidential election, paving the way for Lee Jae-myung's immediate inauguration. Lee's victory follows