Lee Jae-myung, the candidate from the Democratic Party of Korea who has firmly secured victory in the 21st presidential election, is giving a speech on the outdoor stage set up in front of the National Assembly in Yeouido, Seoul, on the morning of the 4th./Courtesy of News1

Lee Jae-myung's term as the 21st President officially began at 6:21 a.m. on the 4th.

The National Election Commission held a full committee meeting at 6 a.m. on the 4th and officially confirmed Lee Jae-myung of the Democratic Party of Korea as the president-elect based on the results of the 21st presidential election.

In this presidential election held due to a vacancy, the term of the new president will begin immediately after the decision on the president-elect is passed by the National Election Commission.

All inherent powers of the president, including command of the armed forces, will automatically transfer from acting President and Deputy Prime Minister Lee Joo-ho to President Lee at the start of the term.

President Lee is scheduled to hold an inauguration ceremony at the Rotunda Hall of the National Assembly at 11 a.m. on that day.