Conservative wins presidency in SKorea

SEOUL – A former tycoon who promises to reinvigorate South Korea’s economy and take a tougher line with North Korea won a landslide presidential election victory yesterday, according to exit polls and partial official results.

TV exit polls, released after voting ended at 09h00 GMT, said Lee Myung-Bak of the conservative opposition Grand National Party (GNP) had won just over half of total votes cast – ending a decade of left-leaning rule. If confirmed by official results expected by 10h00 pm, it would be the first time in the nation’s history for a candidate to win over 50 per cent.The exit polls put Lee around 25 points clear of his nearest rival, Chung Dong-Young of the liberal pro-government United New Democratic Party (UNDP).Rightwing independent Lee Hoi-Chang was third with between 13 and 14 per cent.He conceded defeat and congratulated his namesake.With 26 per cent of the vote tallied, official results gave Lee 46.5 per cent to Chung’s 28 per cent and Lee Hoi-Chang’s 15,8 per cent.Koreans grappling with high youth unemployment, an ever-widening income gap and soaring property prices gave Lee an unprecedented mandate even though he faces a fraud investigation.GNP headquarters erupted with joy when the exit polls flashed on a screen.Officials and supporters hugged each other, wept and yelled “Hurrah!” Dozens of others, chanting “Lee Myung-Bak!” set off firecrackers in central Seoul, cheering and dancing.Lee, who turned 66 on polling day, will be the nation’s first leader from a business background and the first president-elect to face a criminal inquiry.He will be inaugurated on February 25 to replace incumbent Roh Moo-Hyun.Nampa-AFPIf confirmed by official results expected by 10h00 pm, it would be the first time in the nation’s history for a candidate to win over 50 per cent.The exit polls put Lee around 25 points clear of his nearest rival, Chung Dong-Young of the liberal pro-government United New Democratic Party (UNDP).Rightwing independent Lee Hoi-Chang was third with between 13 and 14 per cent.He conceded defeat and congratulated his namesake.With 26 per cent of the vote tallied, official results gave Lee 46.5 per cent to Chung’s 28 per cent and Lee Hoi-Chang’s 15,8 per cent.Koreans grappling with high youth unemployment, an ever-widening income gap and soaring property prices gave Lee an unprecedented mandate even though he faces a fraud investigation.GNP headquarters erupted with joy when the exit polls flashed on a screen.Officials and supporters hugged each other, wept and yelled “Hurrah!” Dozens of others, chanting “Lee Myung-Bak!” set off firecrackers in central Seoul, cheering and dancing.Lee, who turned 66 on polling day, will be the nation’s first leader from a business background and the first president-elect to face a criminal inquiry.He will be inaugurated on February 25 to replace incumbent Roh Moo-Hyun.Nampa-AFP