Ruling-party candidate Park Geun-hye (Bahk guhn-hae) was elected South Korean president Wednesday, becoming the country's first female leader despite the incumbent's unpopularity and her own past as the daughter of a divisive dictator. The victory sets up the possibility of greater engagement with rival North Korea, despite a controversial rocket launch by Pyongyang last week. 
 
 Unidentified members of opposition Democratic United Party watch TV news reporting exit polls on their presidential candidate Moon Jae-in in South Korea's presidential elections at the party headquarters... (Associated Press) 
 
 South Korean Confucian scholars, wearing traditional attire, prepare to cast their ballots in presidential election at a polling station in Nonsan, South Korea, Wednesday, Dec. 19, 2012. South Koreans... (Associated Press) 
 
 Opposition Democratic United Party's Presidential Candidate Moon Jae-in receives a bouquet of flowers from a supporter during his campaign in Daegu, South Korea, Tuesday, Dec. 18, 2012. South Korea's... (Associated Press) 
 
 South Koreans wait in line to cast their votes in a presidential election at a polling station in Seoul, South Korea, Wednesday, Dec. 19, 2012. Huge crowds turned out Wednesday to vote in the tight presidential... (Associated Press) 
 
 South Korea's presidential candidate Park Geun-hye of ruling Saenuri Party raises her arms during her presidential election campaign in Busan, South Korea, Tuesday, Dec. 18, 2012. South Korea's presidential... (Associated Press) 
 
 South Koreans wait in line to cast their votes for a presidential election at a polling station in Seoul, South Korea, Wednesday, Dec. 19, 2012. Huge crowds turned out Wednesday to vote in the tight presidential... (Associated Press) 
 
 South Korea's presidential candidate Park Geun-hye, center, of the ruling Saenuri Party speaks to the media after she cast her ballot for presidential election at a polling station in Seoul, South Korea,... (Associated Press) 
 
 Party leaders and members of South Korean presidential candidate Park Geun-Hye's ruling Saenuri Party watch a television broadcasting exit polls at the party's headquarters in Seoul on Wednesday, Dec.... (Associated Press) 
 
 South Korean opposition Democratic United Party's presidential candidate Moon Jae-in and his wife Kim Jung-sook cast their votes for the presidential election at a local polling station in Busan, south... (Associated Press) 
 
 South Koreans wait in line to cast for their votes for presidential election at a polling station in Seoul, South Korea, Wednesday, Dec. 19, 2012. South Koreans wrapped in mufflers and parkas braved frigid... (Associated Press) 
 
 South Korean President Lee Myung-bak exits from a voting booth to cast his ballot in South Korea's presidential election at a polling station in Seoul, South Korea, Wednesday, Dec. 19, 2012. South Koreans... (Associated Press) 
 
 After liberal candidate Moon Jae-in (Moon Jay-in) conceded victory in a close race, Park said she will become "a president of promise." 
 
 Huge crowds lined up throughout the day, braving frigid weather to choose between Park and Moon, the son of North Korean refugees. Both candidates steered away from outgoing President Lee Myung-bak's (lee myuhng bahk) policies, including, most strikingly, his hard-line stance on North Korea. 
 
 Turnout was the highest in 15 years, and some analysts thought that might lift Moon, who is more popular with younger voters. Despite moving to the center, however, Park was carried by her conservative base of mainly older voters who remember with fondness what they see as the firm economic and security guidance of her dictator father, the late President Park Chung-hee. 
 
 Park will become the first woman to lead a country that still struggles with widespread sexism, and analysts said her victory would partly erase the bias that women can't thrive in South Korea's tough political world. 
 
 Park says she is open to dialogue with North Korea but calls on Pyongyang to show progress in nuclear dismantlement for better relations with Seoul. 
 
 Ties between the Koreas plummeted during Lee's term. Many voters blame the tension over the last five years for encouraging North Korea to conduct nuclear and missile tests _ including a rocket launch by Pyongyang that outsiders call a cover for a banned long-range missile test. Some also say ragged North-South relations led to two attacks blamed on Pyongyang that killed 50 South Koreans in 2010. 

 Media playback is unsupported on your device Media caption The BBC's Lucy Williamson: "She's going to have to try and bring the country together" 
 
 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. 
 
 Ms Park, 60, will replace her party colleague Lee Myung-bak. 
 
 He is stepping down as the law requires after his five-year term. 
 
 Analysis Park Geun-hye's win means that South Korea now has its first female president. In a country where rapid modernisation exists alongside ancient Confucian values, many people are saying her election will prompt real social change. Ms Park has already served as South Korea's first lady, after her mother was killed in the 1970s. Now she's won a stint in her father's role, she'll face loud demands to reform the big family conglomerates he created, whilst protecting the country's modern economy from the effects of the global slowdown. Supporters of her liberal rival, Moon Jae-in, have accused Ms Park of belonging to the past, and of having little understanding of the rough and tumble of modern democratic government. 
 
 Combined figures from the networks released after polls closed gave Ms Park 50.1% of the vote over Mr Moon's 48.9%. 
 
 "This is a victory brought by the people's hope for overcoming crisis and economic recovery," she told supporters in the capital Seoul. 
 
 Economic growth has fallen to about 2% after several decades in which it averaged 5.5%. 
 
 With the country having split almost equally along party lines, the BBC's Seoul correspondent Lucy Williamson says Ms Park will have to work hard to improve relations with her detractors. 
 
 Father's legacy 
 
 From the moment polls opened at 06:00 on Wednesday (21:00 GMT on Tuesday), millions of South Koreans queued to cast their ballots despite freezing temperatures. 
 
 Ms Park's supporters, wearing red party scarves, cheered as poll figures emerged. 
 
 Both bolstered and dogged by the legacy of her father, who built South Korea's economy while crushing dissent, she apologised in September for human rights abuses under his administration. 
 
 Mr Moon of the Democratic United Party is a former human rights lawyer who served under former President Roh Moo-hyun. He was briefly jailed by Ms Park's father in the 1970s. 
 
 Park Geun-hye Daughter of former President Park Chung-hee 
 
 Served as South Korea's first lady after her mother was murdered by a North Korean gunman in 1974 
 
 First elected to the national assembly in 1998 
 
 First bid for the presidency in 2007 
 
 Unmarried 
 
 Has promised to redistribute wealth, reform big conglomerates and seek greater engagement with North Korea Profile: President-elect Park Geun-hye 
 
 Both candidates put forward broadly similar policies, promising to boost social welfare spending, close the gap between the rich and poor and rein in the family-run giant conglomerates known as chaebol. 
 
 The issue of North Korea did not feature heavily in the campaign despite its recent rocket launch. 
 
 Both candidates promised more engagement with Pyongyang - though in Ms Park's case, more cautiously than her rival. 
 
 Ties between the two Koreas deteriorated during Mr Lee's term.
– South Korea has elected its first female president in conservative candidate Park Geun-hye, who narrowly beating out liberal challenger Moon Jae-in with a 50.1% to 48.9% lead with 84% of votes counted, reports the BBC. More than 63% of South Koreans came out to cast their ballots this morning, despite frigid temperatures. Park is the daughter of former military leader Park Chung-hee, but her victory may be a sign that times are changing for South Korea, a nation that has struggled with sexism, notes the AP. Park has said that she's open to discussions with Pyongyang, but says it must first make strides toward nuclear disarmament.