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South Korea's Lee 'wins election' South Korea's Lee 'wins election'
(about 3 hours later)
Voting has ended in South Korea's presidential election, with exit polls suggesting conservative candidate Lee Myung-bak has won a landslide victory.Voting has ended in South Korea's presidential election, with exit polls suggesting conservative candidate Lee Myung-bak has won a landslide victory.
Mr Lee had been widely expected to triumph in the ballot, despite being under investigation for alleged fraud.Mr Lee had been widely expected to triumph in the ballot, despite being under investigation for alleged fraud.
Exit polls showed Mr Lee winning more than 50% of the vote, easily defeating ruling party candidate Chung Dong-young and independent Lee Hoi-chang. Exit polls showed Mr Lee had won more than 50% of the vote, easily defeating ruling party candidate Chung Dong-young and independent Lee Hoi-chang.
The winner will replace Roh Moo-hyun, whose five-year term ends in February.The winner will replace Roh Moo-hyun, whose five-year term ends in February.
Front-runnerFront-runner
Analysts said the main issue for most of the country's 37 million voters was the economy. The poll of 70,000 people was sponsored by South Korean television companies KBS and MBC.
Mr Lee, a 65-year-old former Hyundai executive, seems to have convinced many that he can attract investment and boost the job market. 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.
Mr Lee, a former Hyundai executive who celebrated his 66th birthday on polling day, seems to have convinced many that he can attract investment and boost the job market.
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" electionTHE 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
But his campaign was overshadowed by claims that he was involved in stock market fraud.But his campaign was overshadowed by claims that he was involved in stock market fraud.
Fights broke out in parliament when MPs passed a bill to establish an independent inquiry into the allegations - to 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 will 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", and urged people to turn out and vote.
"This time, we have to change the government without fail," he said."This time, we have to change the government without fail," he said.
A victory for Mr Lee would see his Grand National Party (GNP) return to power for the first time in a decade.
'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.
But his main rival - Chung Dong-young, of the governing liberal United New Democratic Party (UNDP) - said such a victory would bring disgrace on the country.But his main rival - Chung Dong-young, 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 election campaign has been hard-foughtThe election campaign has been hard-fought
In the last opinion poll before the vote, Mr Lee registered a 30-point lead over Mr Chung, a former cabinet minister.In the last opinion poll before the vote, Mr Lee registered a 30-point lead over Mr Chung, a former cabinet minister.
Analysts say the other mainstream challenger, veteran conservative Lee Hoi-chang, has little chance of making an impact. Analysts said the other mainstream challenger, veteran conservative Lee Hoi-chang, had little chance of making an impact.
A Lee Myung-bak win could usher in a tougher stance towards North Korea, reports the BBC's John Sudworth from Seoul.A Lee Myung-bak win could usher in a tougher stance towards North Korea, reports the BBC's John Sudworth from Seoul.
Mr Lee says 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.
But the issue ranks low on the list of priorities for South Koreans, our correspondent adds.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 opinion polls are to be believed, the South Korean public may be willing to put aside questions of ethics when voting for the man they think best suited to the job. 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.