In a closely contested race for the Seoul Mayor position during the 6·3 local elections, Democratic Party candidate Jung Won-oh officially conceded defeat to People Power Party candidate Oh Se-hoon. Following a nail-biting count that saw the lead shift in the final stages, Jung ultimately garnered 48.34% of the vote, totaling 2,471,506 ballots. Despite the intense competition, Jung addressed his camp on June 4th to accept the results with humility, stating that the outcome was a reflection of his own shortcomings. The defeat also impacted stock market trends, with stocks previously associated with Jung experiencing sharp declines following the announcement. | In a closely contested race for the Seoul Mayor position during the 6·3 local elections, Democratic Party candidate Jung Won-oh officially conceded defeat to People Power Party candidate Oh Se-hoon. Following a nail-biting count that saw the lead shift in the final stages, Jung ultimately garnered 48.34% of the vote, totaling 2,471,506 ballots. Despite the intense competition, Jung addressed his camp on June 4th to accept the results with humility, stating that the outcome was a reflection of his own shortcomings. The defeat also impacted stock market trends, with stocks previously associated with Jung experiencing sharp declines following the announcement.