SEOUL:  Opposition candidate Yoon Suk-yeol was elected President of South Korea on Thursday after a "unbelievably" close contest that exposed significant splits along regional, generational, and gender lines and might weakenhis mandate even before he takes office.

Yoon of the conservative People Power Party (PPP) received 48.59 percent of the vote, while Lee Jae-myung of the liberal Democratic Party (DP) received 47.79 percent, according to reports citing the National Election Commission.

This year's election is the closest ever, with a margin of less than one percentage point.

"We, the Republic of Korea's people, are one. Regardless of region, camp, or social class, all citizens of the Republic of Korea are equal citizens of this country and must be treated properly "In a speech to party officials at the National Assembly, Yoon remarked.

Lee, a candidate for the ruling party, admitted loss and praised Yoon. "I tried my hardest but fell short of your expectations," he admitted. "I am solely responsible for anything that happens. I would like to congratulate candidate Yoon Suk-yeol." Yoon also stated that he learnt "what is required to become a national leader and how to listen to the opinions of the people" throughout the campaign. He thanked his opponents from the little progressive Justice Party, Lee and Sim Sang-jeung.

Moon encourages South Koreans to vote in the presidential election.

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