A South Korean appeals court on Wednesday acquitted main opposition leader Lee Jae-myung of an election law violation, reducing the risk that he may not run in a potential early presidential election.

After a session of about 100 minutes, the Seoul High Court overturned a ruling by a lower court in November that handed Lee a one-year sentence, suspended for two years, Yonhap News Agency reported.

Lee, leader of the Democratic Party, or DP, was charged with breaking the country's election law by making false statements about a real estate development project in Seongnam during the 2022 presidential election campaign. He served as mayor of the city near Seoul in 2010-18.

Following the ruling, Lee's supporters and DP lawmakers cheered outside the court. Demonstrators in the opposing camp protested against the ruling and some were reduced to tears.

"I would like to thank the court for delivering a proper ruling based on truth and justice," Lee said.

Instead of concentrating on his trial, Lee said there should be more focus on preventing wildfires that continue to ravage the country's southeast regions, or improving people's lives.

The ruling gained wide attention as Lee is considered the DP's most likely candidate in an early presidential election if President Yoon Suk-yeol's impeachment is upheld.

The Constitutional Court has 180 days to decide whether to remove or reinstate Yoon, who was impeached in December by the opposition-led National Assembly over his brief martial law declaration that triggered turmoil in the country.

If Yoon is removed from office, an early election must be held within 60 days.

Although prosecutors can appeal to the Supreme Court on the Lee verdict, he has largely resolved judicial risks of being disqualified from the next presidential election.

'Deep regret'

Kwon Seong-dong, floor leader of the ruling People Power Party, expressed deep regret over the court's ruling.

Kwon said he believed prosecutors would appeal against the verdict so the Supreme Court could make its judgment and end the legal controversy.

The ruling in Lee's case would have no effect on Yoon's impeachment trial because it is an independent case, he said.

"The DP should not expect the public sentiment toward it to change," said Shin Dong-uk, spokesman for the People Power Party, noting that Lee has four prior convictions and is still facing 12 charges and five trials.

DP chief spokesman Cho Seungrae said the ruling was fair and just. He asked the ruling party to accept the court's decision.

"We also urged the Constitutional Court to set the date (for Yoon's impeachment trial) as soon as possible," Cho said. "People are eagerly waiting for the chaos to end."

In a Facebook post, Park Joomin, a DP lawmaker, said the ruling represented a victory for common sense and justice.

"The verdict on (Yoon's) impeachment is the only thing left," Park wrote.

It has been a month since the Constitutional Court concluded the final hearing of Yoon's impeachment trial.

The ruling on former president Roh Moo-hyun's case was delivered 14 days after the hearings concluded, and it took 11 days for a ruling in former president Park Geun-hye's case to be delivered.

Observers initially expected the Yoon ruling to come in mid-March, but the court has not announced a date yet.

Considering that the court typically announces a verdict date two to three days in advance for security and preparation reasons, the ruling could be pushed back to next month.

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