South Korea’s Park seen winning presidential race

SEOUL (Reuters) - The daughter of a former military ruler led the count of votes in South Korea’s presidential election on Wednesday, putting her on track to become its first woman head of state although her narrow advantage meant the race was set to go to the wire.

A win for 60-year old conservative Park Geun-hye would see her return to the presidential palace where she served as her father’s first lady in the 1970s after Park’s mother was assassinated by a North Korean-backed gunman.

With a third of the votes counted, Park led by 53 percent to 47 percent for her left-wing challenger, human rights lawyer Moon Jae-in, and broadcaster KBS said based on that, she would win by at least four percentage points.

She also led an exit poll by 50.1 percent to Moon’s 48.9 percent.

Final turnout was 75.8 percent, just less than the 77 percent her opponent had appealed for in a bid to turn out the youth vote that was more likely to be for him.

If she does win, Park will take office for a mandatory single, five-year term in February and will face an immediate challenge from a hostile North Korea and have to deal with an economy in which annual growth rates have fallen to about 2 percent from an average of 5.5 percent in the past 50 years.

She is unmarried and has no children, saying that her life will be devoted to her country.

At the headquarters of her Saenuri party, officials greeted the exit polls with a huge cheer, although a clear picture of results may not emerge until 11 p.m. (1400 GMT).

“I’m sure it will go well,” said Kim Sung-joo, co-chairwoman of Park’s election committee.

The legacy of her father, Park Chung-hee, who ruled for 18 years and transformed the country from the ruins of the 1950-53 Korean War into an industrial power-house still divides Koreans.

For many conservatives, he is South Korea’s greatest president and the election of his daughter would vindicate his rule. His opponents dub him a “dictator” who trampled on human rights and stifled dissent.

“I trust her. She will save our country,” said Park Hye-sook, 67, who voted in an affluent Seoul district, earlier in the day.

“Her father ... rescued the country,” said the housewife and grandmother, who is no relation to the candidate.

For younger people, the main concern of the election is the economy and the creation of well-paid jobs in a country where income inequalities have grown in recent years.

Cho Hae-ran, 41, who is married and works at a trading company, believed Moon would raise wages if he won.