Liberal opposition candidate Lee Jae-myung elected president of South Korea

South Korea’s Democratic Party’s presidential candidate Lee Jae-myung. Picture: Ahn Young-joon/AP

Liberal opposition candidate Lee Jae-myung has been elected president of South Korea, according to reports.

South Korean media outlets including Yonhap news agency and SBS television station reported early on Wednesday that Mr Lee has won the election.

The main conservative candidate Kim Moon Soo earlier conceded defeat.

The victory would cap months of political turmoil triggered by the stunning but brief imposition of martial law by now-ousted conservative leader Yoon Suk Yeol.