South Korea's main opposition party head Lee Jae-myung said on Wednesday he was stepping down as party leader, amid expectations that the current populist front-runner for the presidency in opinion polls would soon declare his run.

South Korea's election kicks off a race to elect a new leader who will be thrust into the challenge of navigating Asia’s fourth-largest economy through a global trade war triggered by wide-ranging tariffs imposed by U.

Rep. Lee Jae-myung stepped down on Wednesday as the chair of the Democratic Party of Korea, kicking off his presidential bid. "I am grateful that I was able to serve as the party's chair for three years.