Voters will cast ballots at 13,837 polling stations today to elect 253 of 300 lawmakers with attention being focused on whether the Saenuri Party will secure a majority of seats. The ballot will be held from 6 a.m. to 6 p.m.
Dominant issues are whether the ruling party can maintain a majority in the National Assembly, and if the minor opposition People's Party can emerge as a powerful third party by securing around 30 seats as local pollsters have predicted.
The Park Geun-hye administration could gain momentum if the ruling party gains a majority of seats. This would lead to the pushing through of labor reform and economy-related bills within the remaining term of the current government — a period of less than two years. An election result unfavorable to the Saenuri Party, will accelerate the arrival of a lame-duck presidency.
However, if the opposition bloc is defeated due to a split of the vote between the Minjoo Party of Korea (MPK) and the People's Party, it could fuel internal conflicts over who should be held accountable and even reduce the chances of a change of ideological leadership in the 2017 presidential election.
No matter how it turns out, speculation is rampant that today's national polls could end the nation's two-party system, establishing a new stage for party politics with the People's Party participating as a "casting vote."
Resounding support for the People's Party is expected from voters in the southwest Jeolla region and, if this occurs, it will embolden its co-chairman Rep. Ahn Cheol-soo to lead talks on forming an alliance with the MPK ahead of the presidential election, pundits said.
Voter turnout is estimated to be higher than the previous general election, projected at around 54.2 percent, according to local pollsters.
A Research&Research survey requested by the National Election Commission showed Monday that 66.6 percent of 1,500 respondents said they will vote.
Gallup Korea showed Friday that the expected turnout for voters in their 50s and those in their 60s and above dropped respectively to 75 and 80 percent while that of voters in their 20s rose to 71 percent from 62 percent. But some say such differences will not provide any party with a significant edge.
"Though the Saenuri Party argues the changed tendencies will work against the party, it won't benefit the opposition parties that much, considering the increased proportion of the grey electorate," said Yoon Tae-gon, a senior political analyst at Moa Agenda Strategy. "Only when voter turnout goes way above 60 percent, is there the likelihood of a slight positive impact on the opposition camp."
With the number of swing voters still remaining high at about one quarter of the entire electorate, parties strived to appeal to them during the last-day of campaigning, Tuesday.
The ruling Saenuri Party asked voters to give momentum to the Park administration while the MPK called on them to judge the government for the deepening economic downturn, while the People's Party condemned the political establishment.
Meanwhile, President Park attempted to rally support among conservative voters, encouraging public participation in the ballot.
"I hope citizens help form a functioning National Assembly by casting a precious vote in this election," Park said during a Cabinet meeting.
Criticizing the previous legislative deadlock, she said, "We need a new Assembly working for the livelihood of citizens and economic vitalization in order to overcome many difficulties like the North Korean nuclear issue and stagnating economy."
The government is embroiled in a controversy that it is seeking to exert influence on the election by disclosing details of the defection of 13 North Koreans.
The rare announcement before the National Intelligence Service conducted an investigation has raised suspicions that the administration was attempting to rally support from conservative voters.
"However, I doubt its impact on citizens' voting tendency. When Kim Chong-in and Ahn, who have conservative views on North Korea, lead the opposition parties, ideological controversy won't work against them," Yoon said.