The new South Korean president, Lee Jae-myung, calls himself a foreign policy "pragmatist". He says he is driven by South Koreas national interest, rather than ideology, and has spoken of his desire to improve relations with China and North Korea.

The new South Korean administration will likely make efforts to buy time for U.S. trade talks, as it studies the negotiations of bigger neighbours Japan and China for leverage, according to sources familiar with the ruling party's thinking.

Lee Jae-myung will be one of the most powerful presidents in decades in South Korea, but he is taking over during a perilous political atmosphere.