South Korea election: Park Geun-hye defeats Moon Jae-in
19 December 2012 Last updated at 17:52 GMT
South Korea's President-elect, Park Geun-hye, has said her victory will help the country's economy recover.
Ms 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 Mr Moon has admitted defeat. Turnout was high in a poll dominated by economic and social welfare issues.
Lucy Williamson reports.