2022 South Korean presidential election

A presidential election is scheduled to be held in South Korea in 2022. It will be the eighth presidential election since democratization and the establishment of the Sixth Republic. Under the South Korean constitution, the president is restricted to a single five-year term in office, meaning the incumbent president Moon Jae-in is ineligible to run for a second term.
Background.
Following the 2016 South Korean political scandal, longtime liberal politician Moon Jae-in of the Democratic Party defeated right-wing firebrand Hong Jun-pyo (Liberty Korea Party) and centrist Ahn Cheol-soo by a wide margin in the 2017 presidential election. Following a somewhat rocky first three years in office, Moon's hand was significantly strengthened by his party's historic victory in the 2020 legislative election, which gave his party an absolute majority of 163 out of 300 seats in the National Assembly. 
While the National Assembly election was seen as a test of Moon's popularity, the contest for the symbolically crucial Jongno district (which contains the Blue House) between two former Prime Ministers, the liberal Lee Nak-yeon and the conservative Hwang Kyo-ahn, was seen as a harbinger of the 2022 presidential contest. Lee won the contest and is considered to be the frontrunner for the 2022 presidential election.
Electoral system.
The President of South Korea is elected via a single round plurality voting system. The President serves a term of five years and is ineligible to seek re-election either directly or indirectly.
Candidates.
Democratic Party.
The Democratic Party (Korean: 더불어민주당) is the ruling political party of South Korea following its victories in the 2017 presidential election, 2018 local elections and the 2020 National Assembly election. While the current party was technically founded in 2014, it should be understood as the current iteration of South Korea's long line of liberal parties dating back to the original Democratic Party that was founded in 1955. The party is considered to be something of a big tent party comprising both centrist and liberal factions. Politicians in the party generally support a social market economy with a strong social safety net, anti-corruption measures, direct democracy, and environmentalist policies. On matters of foreign policy, the party supports reconciliation and eventual reunification with North Korea. Incumbent president Moon Jae-in, a member of the party, is ineligible to run for reelection due to term limits. The party is particularly strong in Honam region.
Declared.
The following individuals have announced their bid for the Democratic party nomination:
Potential.
The following individuals have been mentioned as potential candidates of the Democratic Party for the 2022 presidential election:
Following and prior to his victory in the crucial district of Jongno in the 2020 legislative election, former Prime Minister Lee Nak-yeon has emerged as the unequivocal frontrunner for both the Democratic Party's nomination and the general election. Lee, who is celebrated for his expertise on Japanese relations and administrative capabilities he has shown during his time as South Jeolla Provincial Governor and President Moon Jae-in's first Prime minister, is supported by Moon's faction of the party evinced by his landslide victory in party leadership contest. Gyeonggi Governor Lee Jae-Myung, who ran a left-wing populist campaign for president in 2017 while Mayor of Seongnam, has emerged as the second most popular prospective candidate across parties as a result of his well-received response to the 2019 coronavirus pandemic. Moon's second prime minister, Chung Sye-kyun, also resigned for his presidential campaign.
Others mentioned as potential Democratic candidates include Former Minister of Health and Welfare Rhyu Si-min, a 2007 presidential candidate who announced his retirement from politics in 2013 but has since become an internet commentator and chair of the Roh Moo-hyun Foundation; Kim Boo-kyum, President Moon's first Minister of the Interior and Safety was once considered as a potential candidate but seems unlikely as he now serves as Moon's third and last prime minister.
People Power Party.
The People Power Party (Korean: 국민의힘) is the current iteration of a long line of South Korean conservative parties. The party was formally established in 2020 following a merger of multiple conservative parties created in the fallout of the 2016 South Korean corruption scandal that led to the fall of conservative president Park Geun-hye and her Saenuri Party. In the 2017 presidential election, the party's predecessor nominated right-wing populist Hong Jun-pyo, who went on to lose the election to liberal Moon Jae-in. The party lost further ground in the 2020 National Assembly election. On matters of policy, politicians in the party generally support neoliberal economic policies (including support for "chaebols", the industrial conglomerates that dominate the South Korean economy) and hold conservative positions on national security, including hawkish stances on North Korea. The party is particularly strong in the southeastern Gyeongsang region.
The following individuals have been mentioned as potential candidates of the People Power Party for the 2022 presidential election:
Former Prime Minister Hwang Kyo-ahn, a longtime prosecutor who entered politics as Minister of Justice and later became President of South Korea following Park Geun-hye's resignation, was seen as the most likely right-wing candidate for the 2022 presidential election. However, his high-profile defeat in the 2020 South Korean legislative election in the crucial Jongno district versus Democratic former Prime Minister Lee Nak-yeon harmed his standing in national polling. As a result, right-wing populist Hong Jun-pyo, the conservative opponent of Moon in 2017, has emerged as the leading conservative candidate in 2022. 
Former Prosecutor General of South Korea Yoon Seok-youl is also considered a potential presidential candidate in the election. Yoon led a January 2021 poll as the most favored presidential candidate on 30.4 percent, over the ruling Democratic Party's Lee Jae-myung and Lee Nak-yeon.
Former National Assembly member Yoo Seong-min, one of the most prominent conservative opponents of Park and a co-founder of the breakaway Bareun Party in 2016, is also mentioned as a possible candidate.
Justice Party.
The Justice Party (Korean: 정의당) is a centre-left, social democratic and progressive party that was founded in October 2012.
People Party.
The People Party (Korean: 국민의당) is the most recent party founded by centrist politician Ahn Cheol-soo, a former medical doctor and software executive who ran for president in 2017 and 2012. At one point, Ahn, who describes himself as a practioner of "new politics", emerged as a major threat to liberal candidate Moon Jae-in in 2017 following the conservative Hong Jun-pyo's collapse in polling. However, Ahn finished in third place behind winner Moon and Hong with approximately 21.41% of the vote. In the 2020 National Assembly election, the People Party faired poorly, winning a mere 3 seats. In comparison, Ahn's previous outfit, the similarly named People's Party, won an unexpectedly large 38 seats in the 2016 National Assembly election.
The following individuals have been mentioned as potential candidates of the People Party for the 2022 presidential election:
Ahn Cheol-soo, a former medical doctor, software engineer and National Assembly member who is known for his centrist views, is considered a possible 2022 presidential candidate following his performance in the 2017 presidential election.