The unpredictable prospects for the forthcoming presidential election in South Korea reflect the ebb and flow of outgoing President Moon Jae-in's five years in office.

From North Korea summits to stalled talks and missile tests, from COVID-19 success to soaring home prices and corruption slanders, here are some of the important matters at stake in the March 9 contest:

•HOME PRICES

In Seoul and the wider metropolitan area, home to about half of South Korea's population, the average price of an apartment has roughly doubled since 2017.


•YOUNG VOTERS

Discontent over the economic situation has driven away many young voters who initially backed Moon, according to polls. They comprise a lost generation that many see emerging as the key voting bloc that could swing this year’s presidential election.

•HOUSEHOLD DEBT

As of June 2021, South Korea's household debt-to-GDP ratio at 105.8% was one of the highest in the world and almost double the average among groups of 20 advanced nations.

South Koreans have been borrowing more than ever before and policymakers are increasingly worried about the 1,845 trillion debt pile.

•JOBS

An average of 173,000 jobs were created every year since 2017, government data showed, far short of Moon's pledge to add more than 500,000 private-sector jobs annually.

•COVID-19 RESPONSE

Moon faced an initial nightmare in early 2020 as South Korea became the scene of the first large-scale coronavirus outbreak outside of China.

However, a campaign of aggressive testing, tracing, and quarantines helped South Korea keep numbers in check and the death toll low, without major lockdowns.

A slow start to the vaccination campaign later made up for lost ground, but businesses have scoured under new rules imposed to curb a surge in Omicron infections.

•SCANDALS

Moon avoided any major personal scandals, but his party's standing took hits from a series of controversies that undermined his pledge to clean up the office after his predecessor was impeached and removed.


•NORTH KOREA

Polls show foreign policy issues such as North Korea are overshadowed by domestic concerns for most voters, but whoever wins the March 9 election will inherit a standoff that could worsen further as North Korea threatens
to resume long-range missile or nuclear weapon tests for the first time since 2017.