S Korean Pres vows economic revival

CNC report from Seoul
Added On February 25, 2013

Park Geun-hye has been sworn in as South Korea's new president.

She has vowed to tackle an increasingly defiant northern neighbor, a slowing economy, and a widening gap between rich and poor.

She took the oath of office at a ceremony in the National Assembly plaza in Seoul before about seventy thousand people including the Thai Prime Minister.

SOUNDBITE(KOREAN): Park Geun-hye, President of the Republic of Korea
"As President of the Republic of Korea, I will live up to the will of the people by achieving economic rejuvenation, the happiness of the people, and the flourishing of our culture. I will do my utmost to building a Republic of Korea that is prosperous and where happiness is felt by all Koreans."

The 61-year-old is the country's first female leader.

She's also the first child of a former president to assume top office.

Park pledged economic revival, educational system overhaul and restoring trust between the two Koreas.

She vowed to root out unfair practices that stifled the growth of small and medium-sized businesses.

She also pledged to reform the educational system to allow more room for creativity and bring about flourishing culture.
   
Park's inauguration came on the heels of a widely condemned nuclear test by the Democratic People's Republic of Korea.

That sent a warning message to the northern neighbor.
   
She reiterated to seek a trust- building process between the two Koreas.

Park won the Dec. 19 presidential election, becoming the first-ever president to earn a majority of the popular vote.

One of the immediate challenges facing the Park administration is forming the Cabinet, with opposition parties looking to foil some of the Cabinet nominations in the coming weeks.