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Lee claims S Korea election win Lee wins South Korea's election
(about 2 hours later)
Lee Myung-bak has claimed victory in the South Korean general elections after initial results showed a landslide majority for his GNP party. Conservative candidate Lee Myung-bak has won a landslide victory in South Korea's presidential election, despite being hampered by corruption claims.
Both his main rivals had earlier conceded defeat. The National Election Commission said Mr Lee had 48.6% of the vote after 98% were counted. Chung Dong-young, of the ruling liberals, was second with 26.2%.
Exit polls showed that Mr Lee, the candidate for the conservative GNP party, had won more than 50% of the vote. His closest rival won 26%. Mr Lee's victory hands back power to his Grand National Party (GNP) for the first time in a decade.
Mr Lee had been widely expected to triumph in the ballot, despite being under investigation for alleged fraud. But he still faces allegations over an alleged fraud in 2001, which he denies.
Official results are yet to be announced. The winner will replace Roh Moo-hyun after his five-year term. Although prosecutors had decided there was not enough evidence to charge him, MPs voted to reopen the case earlier this week.
Voter turn-out was estimated to be about 60%, one of the lowest ever for a South Korean election. Mr Lee, who had been widely expected to triumph in the ballot, will replace incumbent Roh Moo-hyun in February.
Front-runner Voter turn-out was estimated to be about 60% - one of the lowest ever for a South Korean election.
'Negative campaigns'
Mr Lee, a former Hyundai executive, claimed victory in a televised news conference, saying the Korean people had given him "absolute support".Mr Lee, a former Hyundai executive, claimed victory in a televised news conference, saying the Korean people had given him "absolute support".
"I'm well aware of the people's wishes," he said."I'm well aware of the people's wishes," he said.
The election in pictures "I will serve the people in a very humble way. According to the people's wishes, I will save the nation's economy that faces a crisis."The election in pictures "I will serve the people in a very humble way. According to the people's wishes, I will save the nation's economy that faces a crisis."
The ruling party candidate Chung Dong-young, Mr Lee's closest rival, earlier conceded the election, telling the conference: "I accept what the people decided today." Mr Chung, of the governing liberal United New Democratic Party (UNDP), had earlier conceded the election, saying: "I accept what the people decided today."
"I hope president-elect Lee Myung-bak will lead the country well," he told Reuters news agency."I hope president-elect Lee Myung-bak will lead the country well," he told Reuters news agency.
Mr Lee, who celebrated his 66th birthday on polling day, seems to have convinced many that he can attract investment and boost the job market. Mr Lee, who celebrated his 66th birthday on polling day, sought to persuade voters that he could attract foreign investment and boost the job market.
But his campaign was overshadowed by claims that he was involved in stock market fraud. But the claims of stock market fraud overshadowed much of his campaign.
Fights broke out in parliament when MPs discussed a bill to establish an independent inquiry into the allegations. The bill passed and the inquiry will be completed before the presidential inauguration in February. Fights broke out in parliament when MPs discussed a bill to establish an independent inquiry into the allegations. The bill passed and the inquiry is due to be completed before the presidential inauguration in February.
Casting his vote in the capital, Seoul, Mr Lee thanked supporters for defending him from what he called "numerous negative campaigns", and urged people to turn out and vote. Casting his vote in the capital, Seoul, Mr Lee thanked supporters for defending him from what he called "numerous negative campaigns".
"This time, we have to change the government without fail," he said."This time, we have to change the government without fail," he said.
'Truth and lies''Truth and lies'
A confirmed victory for Mr Lee would see his Grand National Party (GNP) return to power for the first time in a decade. Earlier, Mr Chung had said a victory for Mr Lee would bring disgrace on the country.
But Mr Chung, of the governing liberal United New Democratic Party (UNDP) - said such a victory would bring disgrace on the country.
"This election is a battle between truth and lies," he told journalists as he cast his ballot."This election is a battle between truth and lies," he told journalists as he cast his ballot.
THE CANDIDATES Lee Myung-bak: Frontrunner, former Hyundai executiveChung Dong-young: Liberal, member of current cabinetLee Hoi-chang: Veteran conservative Profiles: Presidential hopefulsSouth Korea's 'dirty' election In the last opinion poll before the vote, Mr Lee registered a 30-point lead over Mr Chung, a former cabinet minister. THE CANDIDATES Lee Myung-bak: Frontrunner, former Hyundai executiveChung Dong-young: Liberal, member of current cabinetLee Hoi-chang: Veteran conservative Profiles: Presidential hopefulsSouth Korea's 'dirty' election
Analysts said the other mainstream challenger, veteran conservative Lee Hoi-chang, had little chance of making an impact. Analysts believe Mr Lee could usher in a tougher stance towards North Korea.
A Lee Myung-bak win could usher in a tougher stance towards North Korea, reports the BBC's John Sudworth from Seoul. He has said he wants to see more in return for the aid and trade given to Pyongyang as a result of the decade-long policy of engagement.
Mr Lee has said he wants to see more in return for the aid and trade given to Pyongyang as a result of the decade-long policy of engagement. Rhee Q Taek, parliamentary leader of Mr Lee's Grand National Party, told AFP news agency that the results showed the "people's wish to rescue the economy by changing the government".
But the issue ranks low on the list of priorities for South Koreans, our correspondent adds.
Many are focused instead on the state of the economy and if the exit polls are to be believed, the South Korean public decided to put aside questions of ethics when voting for the man they thought best suited to the job.
Rhee Q Taek, parliamentary leader of Mr Lee's Grand National Party, told AFP news agency that the results showed the "people's wish to rescue the economy by changing the government."
"People passed judgment on the Roh government and the liberals," he said."People passed judgment on the Roh government and the liberals," he said.