S. Korea's new president to have 'serious negotiations' with China and US on THAAD

South Korean President Moon Jae-in said he would have "serious negotiations" with China and the United States over the deployment of the US Terminal High Altitude Area Defense (THAAD) system in a speech after taking an oath as the country's 19th president at the National Assembly building in Seoul on Wednesday.

Moon also declared his willingness to visit Pyongyang in the DPRK.

"If needed, I will fly to Washington immediately. I will also go to Beijing and Tokyo and even Pyongyang in the right circumstances," said Moon.

"I will do everything I can to build peace on the Korean Peninsula."

Moon's five-year term began at 8:09 a.m. Wednesday when the National Election Commission confirmed his victory in the presidential election.

The presidential office said Moon spoke by phone with Lee Sun-jin, army general and chairman of the Joint Chiefs of Staff, and was briefed on the country's current security conditions and possible military movements by the DPRK.

Former leader Park Geun-hye was removed on March 10 by a Constitutional Court ruling that upheld her impeachment over a series of corruption allegations that have also led to her arrest and indictment.