Lee Myung-bak
Elected President of ROK

Secures basis for stable state administration

After fierce political wrangling, Lee Myung-bak of the Grand National Party (GNP) was elected the next president of South Korea on Dec. 19. His landslide victory is very meaningful, as he has secured a base for stable management of the state administration boosted by the people's strong support.
Lee of the conservative opposition party garnered 48.7 percent of the vote, defeating Chung Dong-young of the liberal United New Democratic Party with 26.1 percent and independent Lee Hoi-chang with 15.1 percent - a record high margin of 5.3 million votes since the ex-president Syngman Rhee government. However, voter turnout plunged to all-time low of about 63 percent.
His win is also significant in that it comes despite persistent negative campaigns by other contenders. Lee faced serious setbacks amid allegations of his involvement in the BBK financial scandal.
The president-elect needs to bear in mind that his win is thanks to the people's generous embrace of him despite questions about his ethical soundness.
So he must be humble and refrain from being arrogant while admonishing his followers to keep a proper code of conduct. This is the way to prevent a possible backlash from opposing forces and emerge as a leading force in the real sense of the word.
There has been growing concern over possible disorder in the political arena after the presidential poll. This is because the pro-government United New Democratic Party (UNDP) and other splinter parties are poised to gear up their offensives against Lee with the envisioned independent investigation into the allegation of Lee's entanglement in a financial scam.
Other parties are expected to engage in an all-out war in their bid to prepare for the National Assembly elections in April. Independent candidate Lee Hoi-chang has declared a plan to found a new party representing conservative circles, having refused to regard Lee Myung-bak as a true conservative.
Toward that end, he is likely to pursue the support of Park Geun-hye. But the former GNP leader has remained silent,
only repeating her support for the GNP's candidate. The Creative Korea Party's Moon Kook-hyun will also join in the political maneuvering.
The losers should give time for the president-elect so that he can prepare for the next government. Lee Myung-bak needs to be given a grace period with the other candidates refraining from further political attacks - at least for the time being.
The people chose Lee as the head of state with high expectations for his capability to vitalize the economy. But regrettably, the economic climate surrounding the nation has not been so favorable, given factors such as the growing anxiety over possible stagflation around the world. Some news outlets have said Korea is highly vulnerable to a possible financial crisis among Asian countries. Furthermore, the subprime mortgage crisis, which began in the United States is likely to continue to affect world financial markets.
Notwithstanding the negative campaigns and the "disappearance of policy"contest, the presidential race cost less than previous elections. Additionally, the contest saw little of the chronic regionalism that haunted past elections.
These are highly positive developments for national politics. The political sector needs to spare no effort to upgrade politics to meet the people's expectations by rectifying negative factors while improving positive ones through the coming parliamentary elections.
Ahead of the presidential election, the National Assembly on Dec. 17 passed a bill introducing a special counsel to investigate allegations against then presidential candidate Lee Myung-bak.
Endorsed just two days ahead of the presidential election, the introduction of the new bill emerged as the most significant factor that would determine the result of the Dec. 19 poll. The bill is likely to linger as a "hot potato"issue even after the election with presidential hopefuls poised to continue to raise the issue in a bid to maintain the upper the hand in the lead up to the parliamentary elections next April.
Though the former Seoul mayor was elected president, other contenders will likely refuse to accept the election outcome if Lee is found to have been involved in the so-called BBK financial manipulation scandal. In that case, the political arena will be plunged into deep confusion.
There will be no grace period for the new president with rival parties likely to call for a reelection of the head of state. Lee and the GNP may attempt to launch counter offensives with the envisioned introduction of another special counsel bill for an investigation into the Samsung Group's alleged bribing of influential figures in the current government.
The fresh dispute began when a video showed Lee acknowledging he had set up the BBK company during a lecture in 2000. Wary of the possible repercussions, Lee declared on Dec. 16 he would accept the demand for the special counsel bill. Cheong Wa Dae had been pressing Lee, indicating its willingness to instruct a reinvestigation into the BBK case.
In the tape, Lee said he had received a 28.8 percent return through BBK. Lee's statement ran counter to the prosecution's disclosure that Kim Kyung-joon owned BBK. Lee also earlier asserted he had nothing to do with BBK.
The GNP claimed Lee made such a remark in the lecture in efforts to publicize the fledgling company. But even if this is the case, questions remain. The former Seoul mayor needs to clarify the background of his statement in the lecture, and his role in the setup of the financial firm.
Now it appears he had engaged in the formation of the company in its initial stages, though he might have discontinued this later. A survey showed more than 80 percent of respondents said they believed Lee was involved in the fraud case.
The reason so many people have supported Lee despite the simmering suspicion of his alleged involvement in the scandal is that they expect much from him for the revitalization of the national economy. The people will likely never give up their hope for economic prosperity, minimizing the impact of the recent revelation.
But should Lee be found to have told a lie about the issue, it will be a different matter. Honesty should be the most important characteristic for a possible national leader.
Major presidential candidates engaged in a tough battle through their final TV debate Dec. 16, three days before the presidential poll. The debate progressed in a hotter-than-ever atmosphere as the candidates were bent on wooing support from undecided voters.
The debate also drew growing attention as it was held among fresh allegations that front-runner Lee Myung-bak of the GNP was directly engaged in the so-called BBK stock price manipulation scandal. The governing UNDP disclosed a tape showing Lee making the statement on his leading role in the founding of the company.
Despite an intensifying dispute over the new evidence of Lee's involvement in the case, there is little possibility Lee will suffer a serious setback in his presidential ambition.
The rival political parties have been clashing over an impeachment bill against three prosecutors submitted by the UNDP.
Some 30 lawmakers of the GNP barricaded the seat of the House Speaker to block the possible passage of the bill at the National Assembly.
It is the first time prosecutors have faced impeachment at the initiation of a political party, though Prosecutor-Generals have been subject to the measure six times in the past. All the cases were rejected or repealed.
The UNDP claims the three prosecutors failed to investigate suspicions over GNP presidential candidate Lee's alleged involvement in the BBK financial rigging scandal. It also asserts the prosecutors violated the Constitution and Prosecution Law in attempts to cover up or manipulate evidence while clearing Lee of any charges. The UNDP has been criticized for having pressed the prosecution by mobilizing some 60 of its lawmakers who staged protests in front of the prosecution office in southern Seoul.
The UNDP has been launching multi-pronged offensives against then front-running GNP presidential contender Lee, since the prosecution disclosed the outcome of its investigation into the BBK case on Dec. 5. We believe the UNDP's move is nothing but political maneuvering designed to hurt the GNP standard bearer. The UNDP and its presidential candidate Chung Dong-young are hell bent on attacking Lee.
With defeat in the Dec. 19 poll, the UNDP appears to be bracing for parliamentary elections slated for next April while giving up on the presidential election. Various signs indicate presidential contenders have begun to shift their focus to the National Assembly polls.
Independent Lee Hoi-chang has declared he will create a new party on behalf of conservative forces. Creative Korea Party's Moon Kook-hyun is also ready to continue the race despite his seemingly slight chance of winning. Moon has also rebuffed the UNDP's request to put forward a single candidate.
The UNDP will likely continue to raise the issue of the BBK scandal even after the presidential poll to use it as a tool to win the upper hand in the parliamentary election. The prosecution is believed to have done its utmost to get the real picture of the scandal over the past month. Some 60 elite prosecutors spared no efforts searching for hundreds of accounts at home and abroad while questioning scores of people.
They also mobilized all possible scientific equipment to detect authenticity of the documents submitted. Justice Minister Chung Soung-jin said, "It is not fair to believe a person who embezzled tens of billions of won, while distrusting the outcome of an investigation conducted by top-class prosecutors."While Lee has been eager to solidify his lead, Chung Dong-young of the liberal UNDP was desperate for a come-from-behind victory.
Various surveys conducted by newspapers and broadcasters showed Lee had the support of more than 40 percent, followed by Chung with roughly 16 percent and conservative independent Lee Hoi-chang with about 10 percent.
Former Seoul Mayor Lee, who also worked as CEO of Hyundai Engineering and Construction, has appealed to the people to vote for him, saying that he is the right person to revive the economy.
Chung has called the current race a showdown between democratic, reformative forces and corrupt groups, apparently targeting Lee who is allegedly involved in scandals involving stock manipulation and the phony registration of his residence.
The GNP candidate visited a securities company in Yeoido, Seoul. During a meeting with company executives, the former mayor presented campaign pledges aimed at easing rules on the financial sector.
Later in the day, he spent most of his time preparing for a TV interview, and the third and last televised debate between presidential contenders on Sunday, Dec. 16.
In a last-ditch effort to catch up with the conservative frontrunner, Chung visited five regions in the western part of the country including Daejeon and the Jeolla provinces. He also visited the southern resort island of Jeju.
During his stumping, Chung denounced Lee Myung-bak's policies on the economy and his alleged involvement in a financial scam masterminded by Lee's former business partner, Kim Kyung-joon.
"However hard we look, there is no economic expert Lee Myung-bak nor successful businessman Lee Myung-bak,"said Chung. "Five days are enough and a long, long time to reveal the truth. Once people's minds change, a miracle will come,"he said.
The liberal-minded Chung described the former mayor's economic policies centered on large-scale construction projects as ones based on the "shovel economy"of the past.
Ultraconservative Lee Hoi-chang toured seven regions, including the Chungcheong provinces, North Gyeognsang Province and Pohang.
The former Supreme Court judge took issue with North Korea policies presented by the GNP, which partly advocates the "sunshine policy"of engaging the Stalinist North.
"The ambiguous approach toward North Korea by the GNP and its nominee Lee Myung-bak is not different from the failed sunshine policy that helped the North build nuclear bombs,"said Lee, who unsuccessfully ran in the presidential elections in 1997 and 2002.
"Peace on the Korean Peninsula will be possible when South Korea can get what it wants from North Korea in return for providing assistance to the regime in Pyongyang,"he added. nw

( from left photo) A jubilant President-elect Lee Myung-bak raises hands together with one of his supporters and flashes a victory sign after he was assured of being elected to be the 17th term president of ROK on the Chenggyecheon Street Seoul in the evening of Dec. 19; President-elect Lee delivers his first speech during a meeting of his party officials and supporters at the GNP headquarters shortly after he was confirmed to have won a landslide victory; and Lee is surrounded by thousands of his loyal party officials and supporters.