South Korean stocks and won gained, as Lee Jae-myung’s widely-expected win in the presidential election ended a months-long political leadership vacuum. The nation’s stock benchmark Kospi jumped 1.5%.

South Korea's voters cast their ballots in a snap presidential election sparked by the impeachment of Yoon Suk Yeol.

South Korea’s presidential election result was never really in doubt. The real question is which version of Lee Jae-myung will now govern the highly polarized nation of 50 million.