Major competitors of Lee Myung-bak of the conservative Grand National Party admitted on Wednesday their failures in South Korean presidential elections.
Presidential candidate Chung Dong-young of the pro-government United New Democratic Party (UNDP) said he accepted the failure in the presidential race and will abide by the people's choice of president-elect Lee Myung-bak.
"I respect the Korean people's choice today. I wish president-elect Lee Myung-bak will do well for the country. I apologize for falling short of the people's expectations," Chung said in a statement at the UNDP headquarters in Seoul.
The independent Lee Hoi-chang said that he accepted the people's choice of president-elect Lee Myung-bak.
"Again, I failed to be chosen by the people. But I respect the people's choice," said Lee Hoi-chang, who had been defeated in the presidential elections in 2002 and 1997.
As of 08:30 p.m. local time, Lee Myung-bak won 45.6 percent of the vote counted by the election watchdog, far advanced from the other competitors.
An early exit poll by local media indicated that Lee Myung-bak won 50.3 percent of the respondents' ballots and will win the election.
The election watchdog is expected to officially announce the winner of the election later on the day.
The president-elected will take over President Roh Moo-hyun on Feb. 25, 2008.
Source: Xinhua
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