Abstract
South Koreans made history in the year of 2012 when it elected its first female president. Having won the general election in April, president-elect Park Geun-hye will enjoy strong support from the legislature in implementing her campaign promises. Park and her party have embarked on an “economic democratisation” policy to realise a fair-competition economy. She is also committed to improving relations with the North and adopting a balanced diplomacy with South Korea's neighbouring states.
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