SEOUL (Reuters) -North Korean state media on Thursday reported for the first time on the outcome of South Korea's presidential election held earlier this week. Lee Jae-myung, the candidate of the Democratic Party,

Lee’s presidency does not represent a victory for democracy. Rather, he will impose the demands of the ruling class for austerity no less ruthlessly than the previous administration.

South Korea’s liberal opposition candidate Lee Jae-myung was expected to win an early presidential election on Tuesday.