Gangnam Belt Pushes Oh Se-hoon Amid Backlash Over Real Estate Regulations [Presidential Hopefuls See Mixed Fortunes]

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\r\nSeoul Mayor Oh Se-hoon has won an unprecedented fifth term. His victory was largely driven by strong support from the Gangnam 3 Districts and the Han River Belt, as well as voters in their 20s and 30s, who opposed the government’s real estate regulations. After declaring victory, Oh immediately returned to city affairs and emerged as a central figure in the conservative camp’s presidential race.
■ Overwhelming support from the Gangnam 3 Districts and voters in their 20s and 30s
According to the National Election Commission (NEC) on the 4th, Oh won the 9th nationwide local elections with 49.15% of the vote. Although ballot boxes in Jamsil 7-dong could not be opened because of poor election management, the victory was made official after Democratic Party of Korea candidate Jeong Won-oh announced his concession first.
That morning, Oh declared victory at his campaign and then headed straight to the Seoul Metropolitan Government, where he held a victory ceremony in front of the main gate amid cheers from citizens and supporters. He also immediately resumed his duties as mayor, signaling the full start of the 9th popularly elected local government term in Seoul.
Oh said, "The result of this election is a victory for young people and for ordinary, hardworking citizens." He added, "I offer my deepest respect and gratitude to the citizens who upheld the balance of democracy in the name of Seoul." He went on to say, "I will devote all my experience and capabilities to Seoul over the final four years that you have entrusted to me."
Analysts say the election result was a victory built on the consolidation of the traditional conservative base, combined with support from voters in their 20s and 30s. The race remained extremely close, but many say Oh gained momentum because voters valued real estate policy, urban competitiveness, and continuity in Seoul’s administration.
■ Momentum builds for Oh Se-hoon’s city agenda
During the campaign, Oh focused on courting moderates and younger voters by presenting key pledges such as revitalizing redevelopment and reconstruction, expanding transportation infrastructure, strengthening youth policies, and supporting the vulnerable. In Gangnam District, Seocho District, Songpa District, and Yongsan District, he won 65.98%, 64.68%, 54.77%, and 57.09% of the vote, respectively, overwhelming Jeong.
Younger and older voters also rallied behind him. In early voting held on the 29th and 30th of last month, exit polls by the three major terrestrial broadcasters (KBS, MBC, SBS) showed strong support for Oh among voters in their 20s and 30s, as well as those in their 60s and older. He led especially among voters aged 29 and under, with 56.8%, and those in their 30s, with 59.7%. Support was even more decisive among voters in their 60s, at 60.4%, and those aged 70 and older, at 71.1%.
With this victory, so-called "Oh Se-hoon-style policies" are expected to gain even more momentum. Seoul is likely to move quickly on projects including the Seun District redevelopment, the creation of the Yongsan International Business District (YIBD), the expansion of the Station Area Revitalization Project, and policies to normalize redevelopment and reconstruction.
The Hangang Bus, one of Oh’s flagship projects, is also expected to enter a full-scale phase of operational system building and efforts to secure profitability.
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ronia@fnnews.com Lee Seol-young Lee Chang-hoon Reporter