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South Korea's new president: goals and challenges


08:05, February 26, 2013

SEOUL, Feb. 25 (Xinhua) -- Park Geun-hye took office as South Korea's first female president on Monday.

In her inauguration speech, Park promised to revive the country's slowing economy and promote her country's culture across the globe.

Speaking to an audience of about 70,000 people at the National Assembly plaza, Park also emphasized the importance of trust-building with partners in dealing with security challenges.


"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," Park said.

To no one's surprise, the economy came on top of Park's agenda. She noted that the global economy is still disturbed by various factors and markets are faced with new challenges.

The 61-year-old president said her government would put more resources into creative industries and promote "economic democratization," which would impose restrictions on industry giants and offer more support for small and medium-sized enterprises.

Park said she is committed to "rooting out various unfair practices and rectifying the misguided habits of the past which have frustrated small business owners and small and medium-sized enterprises."

She said she wants to make a nation where "everyone can live up to their fullest potential, regardless of where they work or what they do for a living."

To increase national happiness, Park said the government would make efforts to alleviate citizens' concern on such problems as education, employment, housing, and elderly care.

She also highlighted the significance of national culture, saying its popularity around the world will serve as a locomotive for the development of South Korea's economy.

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