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Thursday, 20 December 2012 - 8:02
South Korea election: Park Geun-hye defeats Moon Jae-in.
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South Korea's President-elect, Park Geun-hye, has said her victory will help the country's economy recover.

Park, the daughter of former dictator Park Chung-hee, defeated her liberal rival Moon Jae-in. She will be South Korea's first female leader.

Votes are still being counted, but Moon has admitted defeat. Turnout was high in a poll dominated by economic and social welfare issues.

Park, 60, will replace her party colleague Lee Myung-bak. He is stepping down as the law requires after his 5 year term.

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