New SKorean president sworn in

25/02/2008 22:56:53

South Korea has a new leader with the swearing in of President Lee Myung-bak.

Our North Asia correspondent, Shane McLeod, says Lee Myung-bak has been described as South Korea's first chief executive president.

Mr Lee, 66, started his career with South Korean conglomerate, Hyundai, before a term as Mayor of Seoul.

His campaign for president was overshadowed by scandal but he was last week cleared of any involvement in illegal share trading.

In his inauguration speech, President Lee has pledged to boost South Korea's flagging economy and per capita income.

On relations with North Korea he says he will take, what he calls, a pragmatic approach, saying future aid for Pyongyang will be linked to nuclear disarmament.

He says, however, that he remains open to the idea of face-to-face talks with his North Korean counterpart, Kim Jong Il.

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