Korea's Next President

Lee Myung-bak (Former Hyundae Construction CEO and Seoul Mayor) cruised to victory in the presidential election yesterday with almost 49 percent of the vote.

First runner-up Chung Dong-young of the liberal United New Democratic Party won 27 percent of votes, while independent Lee Hoi-chang, the founder and former chairman of the Grand National Party, followed with almost 16 percent.

Voter turnout plunged to an all-time low of about 63 percent, or about 24 million out of 37 million eligible voters. In 2002, the turnout was 70.8 percent.