Oh Se-hoon secured re-election as Seoul mayor in the June 3, 2026, local elections, defeating Democratic Party challenger Chong Won-o by a narrow margin after early counts showed the ruling-party candidate ahead. The incumbent from the conservative People Power Party benefited from strong turnout in key districts and a late swing in vote tallies that reversed initial projections. This outcome reflects voter preference for maintaining checks and balances against the Democratic administration of President Lee Jae-myung, which won most other metropolitan races nationwide. With the result now confirmed by near-complete counts, trader consensus at 100 percent for Oh aligns with the official tally, though formal certification or any rare procedural challenges could still influence final resolution timing.

May 13 2026

Market confidence peaks as Chong consolidates support ahead of early voting

Chong Won-oh jumps to 93%5%

With campaign momentum and favorable polls, traders increasingly bet on Chong’s victory in the June election.

May 10 2026

Latest poll shows Chong widening lead to over 50 % of voter intention, pushing market

Source: Polymarket – market odds page confirming 87.5 % implied probability for Chong (reflecting latest poll data)

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