Park Geun-hye has been elected as South Korea’s first female president. She defeated her liberal rival Moon Jae-in. Ms Park, 60, would replace her party colleague Lee Myung-bak.
Combined figures from the networks released after polls closed gave Ms Park 50.1% of the vote over Mr Moon’s 48.9%.
“This is a victory brought by the people’s hope for overcoming crisis and economic recovery,” she told supporters in the capital Seoul.
Economic growth has fallen to about 2% after several decades in which it averaged 5.5%.
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