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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.