The election of South Korea's new president may alter the nation's interactions with the U.S. and China.

• Analysts predict that South Korea's new president, Yoon Suk-yeol, will adopt a more conservative approach to foreign policy, which may alter the country's relationships with the U.S. and China.
• The pursuit of closer relations with the United States by Yoon could impact Seoul's relationship with China, its largest export market, according to Tom Rafferty, Asia regional director at The Economist Intelligence Unit.
• Karl Friedhoff, a fellow in public opinion and Asia policy at the Chicago Council on Global Affairs, stated that the incoming president could take a tougher stance on China, but Yoon would soften when confronted with economic repercussions.

Yoon Suk-yeol, South Korea's incoming president, is predicted to adopt a conservative approach to foreign policy, which may alter the country's relations with the U.S. and China, according to analysts.

The significance of relations with North Korea, the U.S., and China will be particularly high, according to Tom Rafferty, Asia regional director at The Economist Intelligence Unit.

Yoon has indicated that he plans to strengthen ties with the US, possibly by purchasing another THAAD missile defense system to counter North Korea's threats, according to Karl Friedhoff, a fellow in public opinion and Asia policy at the Chicago Council on Global Affairs.

Seoul's relationship with China could be affected by a cozier relationship with the U.S., as China is South Korea's largest export market, according to Rafferty on CNBC's "Street Signs Asia" on Wednesday.

Friedhoff predicted that Yoon may take a harder stance on China, but he believes the incoming president will moderate when confronted with economic repercussions.

Before the results were announced, Friedhoff predicted that alliance management would be smoother under Yoon compared to rival candidate Lee Jae-myung of the Democratic Party.

Economic trade-offs?

The country now faces new economic trade-offs in maintaining its support for social issues like human rights and democracy, according to Friedhoff.

Moscow's retaliation may have made Seoul vulnerable, as it joined international sanctions against Russia for invading Ukraine.

The major challenge lies in the fact that 60% of South Korean imports from Russia are either crude or refined petroleum, according to him.

Russia could retaliate against South Korea for joining international sanctions by limiting certain exports, according to Friedhoff.

Domestic challenges

Darcie Draudt, a postdoctoral fellow at the George Washington University Institute for Korean Studies, stated that Yoon's narrow win indicates the country is divided on many issues.

Yoon, the conservative opposition candidate, won the election with 48.6% of the vote, narrowly defeating Lee by less than one percentage point.

Yoon has a tough task ahead of him to unite the country, as there was initially a lukewarm response to him and Lee as candidates, as he stated in his acceptance speech, according to Draudt on CNBC's "Street Signs Asia" on Thursday.

Stanford University professor Gi-Wook Shin concurred, stating that domestic politics would likely be characterized by significant tension and conflicts in the near future.

Prior to being South Korea's top prosecutor, Yoon had minimal political experience.

Shin and Rafferty both predicted that the opposition party's control of the legislature would present a challenge in addressing domestic issues, with significant checks and balances on the president's power from the legislature.

While Shin expressed hope that Yoon would succeed in unifying Korean society, he also expressed skepticism about whether the conservative would be able to achieve this goal.

Shin stated on "Squawk Box Asia" on Thursday that he might become frustrated with the opposition controlling the National Assembly and may not be able to collaborate with them.