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Post by bot on Dec 20, 2012 14:04:52 GMT -5
S. Korea elects first female president: reports from MarketWatch.com - MarketPulse SAN FRANCISCO (MarketWatch) -- Park Geun-Hye, the daughter of former president Park Chung-Hee, defeated her progressive rival Moon Jae-In to become the first female president of South Korea, according to press reports on Wednesday. With 86.1% of the ballots counted, Park had won 51.6% of the votes to Moon's 48%, Korea's Yonhap News reported. Moon officially conceded his defeat at a press conference earlier. This is the first time since 1987 that a candiate has secured a majority of the votes, Yonhap said. Park's father was credited with lifting the country out of poverty with economic policies that favored large conglomerates like Samsung and Hyundai. At last check, the U.S. dollar was trading at 1,072.84 Korean won, up slightly from the previous session.
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