The most recent joke in South Korean politics is that all the no-left-turn traffic signs have been taken away from the grounds of Seoul's National Assembly complex. It is of course baseless, but it does reflect the concerns of many people after the April 15 legislative election.
The impressive victory of the liberal Uri Party and decline of the conservative Grand National Party were behind the fears. The pro-government Uri Party won a slight majority, tripling its seats, paving the way for the administration of President Roh Moo-hyun to seek more bold reforms and progressive policies. Some even predict left-leaning policies.
Mr Roh, currently suspended from office following the impeachment vote, is expected to be back soon. He believes that the Uri Party's landslide victory reflects the people's confidence in his leadership. Once back, Mr Roh will be able to push ahead his reform agenda as perhaps the most powerful South Korean president in recent history.
The ruling party will have a parliamentary majority for the first time in 16 years and a liberal party will control the assembly for the first time since 1961. The advance of the leftist Democratic Labour Party will further the trend. The once-outlawed group gained entry to parliament for the first time, winning 10 seats. Consisting mostly of former militant labour leaders and dissidents, it will steer South Korea more towards European-style social democracy and away from US-style capitalistic democracy. Its ascent, with its radical 'Tax for the rich and welfare for the poor' slogans, alarmed foreign institutions and investors.
The changes could see a policy shift to a more equal distribution of wealth, with greater rights for workers and the less privileged. Externally, Seoul may seek more independence from US influence and closer ties with North Korea. Members of the Uri Party and the Labour Party have called for quicker reconciliation with Pyongyang.
So far, the government and the Uri Party have strived to dispel concerns, fearing an exodus of foreign capital. The government has even asked officials to use the word 'reform' rather than 'left-leaning' or 'leftist'.