Seoul: Park Geun-hye of the Saenuri party becomes the first women President of South Korea by defeating Moon Jae-in of the Democratic United Party.
It is a historic victory for Park who is the daughter of former dictator Park Chung-hee.
Though the voting is not complete, it is clear that Park has got enough votes and Moon has conceded defeat.
Talking to journalists she said that this is the victory of people’s hope and she will get the country out of all turbulence.
Earlier today South Koreans came out in good numbers to vote for their candidate.
It was a national holiday in South Korea. Polls opened at 2100 GMT and were to close at 0900 GMT.
The contest was considered to be neck to neck and it is considered to be a slim victory for Park.
For all their differences, Moon, who was Roh`s former chief of staff, and Park, who belongs to Lee`s party, hold remarkably similar views on the need to engage with Pyongyang and other issues.