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Brazilian President Luiz Inacio Lula da Silva won a historic fourth term on Sunday, October 26, 2026, defeating opposition candidate Flávio Bolsonaro in a shock result that defied polls and global anti-incumbent sentiment, according to the Korea Times. Bolsonaro is challenging the results, setting the stage for a tense post-election period, and Brazilian markets were set for a sharp sell-off on Monday as investors had bet on a right-wing victory. Korean President Lee Jae Myung congratulated Lula on Monday, writing, "I congratulate you on your victory with greater pleasure than anyone," as reported by the Korea Times and KBS World. Left-leaning leaders across the Americas also welcomed the victory on social media, while the result provides relief to critics of widening U.S. influence in Latin America, per the Korea Times.