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Lee coasts to victory in South Korea poll

— Photo: AP

President-elect: Lee Myung-Bak and his wife Kim Yoon-Ok casting ballots in Seoul on Wednesday.

SEOUL: Right-wing businessman Lee Myung-bak won South Korea’s presidential election by a landslide on Wednesday with his promises to make voters better off and stand up to North Korea.

The wide margin of victory — the biggest in a direct election since South Korea’s first autocratic President took power 50 years ago — put to rest concerns in his camp that a fresh probe in allegations of fraud by Mr. Lee might deter voters.

“The issue was the economy. Nothing else really mattered this time,” said office worker Han Jae-kwang.

His main rival, left-of-centre Chung Dong-young, conceded defeat after voting ended. “I accept what the people decided today. I hope President-elect Lee Myung-bak will lead the country well,” he told a nationally televised news conference.

Analysts say Mr. Chung has been unable to shake off his political links to outgoing President Roh Moo-hyun, who has been deeply unpopular during much of his five-year term and is seen as having failed to breathe life into the world’s 13th largest economy. Former Hyundai Group executive and ex-Seoul Mayor Lee will take over the presidential Blue House after 10 years of liberal leaders.

“The people have chosen the person who has the ability to revive the economy,” a senior MP with Lee’s Grand National Party (GNP), Ahn Sang-soo, told reporters after the exit poll.

But Mr. Lee’s victory is tempered with the prospect of being the first-President elect under criminal investigation after Parliament this week voted to appoint a special investigator to look into charges he was involved with an investment firm suspected of swindling millions of dollars from investors.

He denies the charges and even if he is implicated, the probe is unlikely to be resolved before the February 25 inauguration. A sitting President cannot be prosecuted for such crimes.

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