The conservative party of South Korea's new president won a slim a majority in a Wednesday parliamentary election, which should give him the political muscle to push through reforms for Asia's fourth largest economy.
But it is not the commanding lead President Lee Myung-bak might have hoped for after he took office in February, intent on radical changes to how the government manages an export-driven economy that faces increasingly tough competition from its neighbours.
"I believe the voters made a political decision to give us a stable majority for the reason they elected President Lee Myung-bak, which is to revive the economy," head of the conservative Grand National Party (GNP), Kang Jae-sup said in a TV interview.
According to National Election Commission preliminary results, the GNP won 130 of the 245 constituencies being contested.
TV network projections said the group will win enough of the remaining 54 seats through proportional representation to capture a total of about 152-154 seats in the 299-seat National Assembly.
Lee began his five-year term in February pledging to boost growth this year to 6 percent from 5 percent last year, cut the red tape stifling business, win approval for a trade deal with major ally the United States and open the economy more to foreign investment.
The projected GNP win marked the end of a string of victories for liberals in parliamentary races since the country began open, democratic elections 20 years ago.
