S. Korean president elected in landslide

? A former Hyundai CEO known as “The Bulldozer” for his determination to get things done rolled over all opposition and financial fraud allegations to win South Korea’s presidency Wednesday, ending a decade of liberal rule.

A day after his landslide victory, Lee Myung-bak pledged to work for a nuclear-free Korean peninsula and strengthen Seoul’s alliance with the United States.

“The most important thing is for North Korea to get rid of its nuclear weapons,” he told a news conference today.

Lee, who turned 66 on election day Wednesday and has served as the mayor of Seoul, earned his win on a wave of discontent with incumbent President Roh Moo-hyun, who many believe bungled the economy and dragged down the country’s rapid growth.

The National Election Commission said Lee had 48.7 percent of the vote after all ballots were counted. Liberal Chung Dong-young was a distant second with 26.1 percent.

It was the biggest margin of victory in any South Korean presidential election.

South Koreans apparently wanted change so badly that they were willing to overlook accusations of ethical lapses that dogged Lee throughout his campaign. Just days before the election, parliament approved an independent counsel investigation into allegations that Lee manipulated stock. The investigation is to be completed before the Feb. 25 inauguration, and Lee has said he will step down if found at fault.

“After all, the people chose the economy over morality,” the Maeil Business Newspaper wrote in an editorial for editions today.

Lee’s conservative Grand National Party asked for a veto of the independent counsel bill. “What I’m asking for President Roh to do is veto such legislation before he leaves office for the sake of the national unity,” Kang Jae-sup, chairman of the Grand National Party, told KBS radio today.

Presidential spokesman Oh Young-jin responded by saying Roh had earlier expressed his intent to sign the bill.

Lee emphasized the economy in his campaign with a “747” pledge – promising to raise annual growth to 7 percent, double the country’s per capita income to $40,000 and lift South Korea to among the world’s top seven economies. He also proposed a “Grand Canal” linking Seoul to the southern port city of Busan that would improve transport and be a tourist attraction.