Conservative wins South Korea presidency by landslide

Lee Myung-Bak looks set to become the next South Korean president. The conservative former tycoon who promises to reinvigorate South Korea's economy and take a tougher line with North Korea won a landslide victory in presidential elections Wednesday, TV exit polls said. Conservative wins South Korea presidency by landslide Two polls, released just after voting ended at 6:00 pm (0900 GMT), said Lee of the 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 10:00 pm, it would be the first time in the nation's history for a candidate to win over 50 percent. 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 placed third with between 13 and 14 percent. Koreans grappling with high youth unemployment, an ever-widening income gap and soaring property prices appeared to have given 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, would be the nation's first leader from a business background as well as the first president-elect to face a criminal inquiry. If officially confirmed as winner, he will be inaugurated on February 25 to replace incumbent Roh Moo-Hyun. State prosecutors cleared Lee early this month of involvement in a 2001 share-rigging fraud involving his former business partner, an issue which had dogged his campaign. But apparent new video evidence surfaced Sunday of Lee's past connection to a suspect firm, prompting rivals in parliament to vote for an inquiry by an independent prosecutor. Media reports said the prosecutor could report just before the inauguration, but most voters appeared prepared to accept the awkward situation. "I saw the video clip but I don't care about anything else but my livelihood," said a small restaurant owner who gave his name as Han. "My business is so bad these days." Despite the twists and turns in the share scandal, in which Lee strongly denies involvement, many saw him as having the best background to boost the economy. The man once nicknamed the "bulldozer" rose from childhood poverty to become a Hyundai construction executive and mayor of Seoul, where he pushed through an ambitious and hugely popular waterway beautification scheme. Lee's "747" campaign pledge aims to achieve seven percent growth, increase per capita income to 40,000 dollars and make South Korea the world's seventh largest economy by encouraging market forces. He vows to promote investment through deregulation and tax adjustments. Lee accuses the current Roh government of pampering North Korea with unconditional aid. He says he would offer it massive help but strictly tied to denuclearisation. "The outcome was amazing," Sungkyunkwan University political science professor Kim Il-Young told AFP. "Nobody had expected Lee to win a majority." Kim said Lee might have benefited from a poor turnout, though to be the lowest ever for a presidential election. "The disclosure of the video claim prompted conservative voters to band together while many liberal voters gave up and did not vote," he said. "The outcome reflected widespread public despair at President Roh's administration." Park Kie-Duck, head of the Sejong Institute think-tank, said policy on North Korea would not drastically change under the new government. "But Lee will likely underline the principle of reciprocity in handling North Korea, more than now," he said.

Conservative wins South Korea presidency by landslide

Two polls, released just after voting ended at 6:00 pm (0900 GMT), said Lee of the 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 10:00 pm, it would be the first time in the nation's history for a candidate to win over 50 percent.

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 placed third with between 13 and 14 percent.

Koreans grappling with high youth unemployment, an ever-widening income gap and soaring property prices appeared to have given 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, would be the nation's first leader from a business background as well as the first president-elect to face a criminal inquiry.

If officially confirmed as winner, he will be inaugurated on February 25 to replace incumbent Roh Moo-Hyun.

State prosecutors cleared Lee early this month of involvement in a 2001 share-rigging fraud involving his former business partner, an issue which had dogged his campaign.

But apparent new video evidence surfaced Sunday of Lee's past connection to a suspect firm, prompting rivals in parliament to vote for an inquiry by an independent prosecutor.

Media reports said the prosecutor could report just before the inauguration, but most voters appeared prepared to accept the awkward situation.

"I saw the video clip but I don't care about anything else but my livelihood," said a small restaurant owner who gave his name as Han.

"My business is so bad these days."

Despite the twists and turns in the share scandal, in which Lee strongly denies involvement, many saw him as having the best background to boost the economy.

The man once nicknamed the "bulldozer" rose from childhood poverty to become a Hyundai construction executive and mayor of Seoul, where he pushed through an ambitious and hugely popular waterway beautification scheme.

Lee's "747" campaign pledge aims to achieve seven percent growth, increase per capita income to 40,000 dollars and make South Korea the world's seventh largest economy by encouraging market forces.

He vows to promote investment through deregulation and tax adjustments.

Lee accuses the current Roh government of pampering North Korea with unconditional aid. He says he would offer it massive help but strictly tied to denuclearisation.

"The outcome was amazing," Sungkyunkwan University political science professor Kim Il-Young told AFP. "Nobody had expected Lee to win a majority."

Kim said Lee might have benefited from a poor turnout, though to be the lowest ever for a presidential election.

"The disclosure of the video claim prompted conservative voters to band together while many liberal voters gave up and did not vote," he said.

"The outcome reflected widespread public despair at President Roh's administration."

Park Kie-Duck, head of the Sejong Institute think-tank, said policy on North Korea would not drastically change under the new government. "But Lee will likely underline the principle of reciprocity in handling North Korea, more than now," he said.