TAIPEI (Taiwan News) — President Lai Ching-te (賴清德) on Wednesday congratulated South Korea for selecting its new president Lee Jae-myung on Tuesday.

In a statement by the Presidential Office, Lai said Taiwan and South Korea share the values of freedom and democracy, per CNA. He emphasized their close trade and cultural exchanges, expressing hope that both sides will be able to expand cooperation under the new administration and work towards peace in the Indo-Pacific.

The Ministry of Foreign Affairs also extended its congratulations to South Korea’s government and people for electing its new leader through a peaceful and democratic process.

S Korea’s snap election comes after former President Yoon Suk Yeol's impeachment following his attempt to declare martial law. President Lee comes from the opposition Democratic Party.