SEOUL, South Korea — Han Duck-soo, South Korea’s acting president, announced his resignation Thursday to pursue what he called a “heavier responsibility,” confirming expectations that he will run in the upcoming presidential election on June 3.

Han, 75, a seasoned statesman with four decades of public service and a doctorate in economics from Harvard, is expected to emerge as a leading conservative contender. He is anticipated to officially announce his candidacy on Friday, potentially aligning with the conservative People Power Party, which is seeking stability following the ousting of former President Yoon Suk Yeol.

“I stand at a crossroads—one path continuing my current duties, the other stepping forward to help the nation overcome its crises. I’ve chosen the latter,” Han stated in his resignation speech.

Known for his expertise in economic policy and international diplomacy, Han has previously served as trade minister, finance minister, and ambassador to the United States. He held the role of prime minister under both liberal and conservative administrations, most recently under Yoon.

While supporters highlight his deep institutional experience as crucial for navigating economic and geopolitical challenges, critics argue that his lack of electoral experience and advanced age may hinder his leadership appeal.

With Han stepping down, Deputy Prime Minister Choi Sang-mok assumes the role of acting president until a new leader is elected.