Yoon congratulated on winning ROK's presidential race

Yoon Suk-yeol has been elected the Republic of Korea's 20th president in an extremely tight race, putting him on course to steer Asia's fourth-largest economy for the next five years.

Yoon, from the main opposition People Power Party, garnered 48.56 percent of the vote in Wednesday's election, defeating liberal rival Lee Jae-myung of the ruling Democratic Party by a narrow margin, according to Xinhua News Agency.

Chinese Foreign Ministry spokesman Zhao Lijian said on Thursday that China congratulates Yoon on being elected.

Zhao noted that China and the ROK are neighbors and important cooperation partners.

This year marks the 30th anniversary of the establishment of diplomatic relations between China and the ROK. The bilateral ties have developed rapidly over the past three decades, bringing concrete benefits to the two countries and their people, Zhao said.

China hopes to work with the ROK to take the anniversary as an opportunity to promote the sound and steady development of bilateral ties, he added.

Based on the final results released on Thursday by the ROK's National Election Commission, Lee won 47.83 percent of the vote. The gap of 0.73 percentage point makes the presidential election one of the tightest contests in the country's history.

About 34 million voters among the electorate of 44.2 million cast ballots, with a final turnout of 77.1 percent, which was only slightly lower than the 77.2 percent turnout in 2017.

Yoon is scheduled to be inaugurated on May 10.

In his first public speech as president-elect, Yoon said on Thursday that the election result shows the call for reform in the country and for restoring justice and common sense, as well as the people's desire for politics of unity rather than division.

In remarks delivered at the National Assembly Library, Yoon vowed to build a strong defense while remaining open to inter-Korean dialogue, which will help the ROK contribute to global peace and prosperity.

He said he will develop a relationship of mutual respect between the ROK and China.

Yoon also aims to open a new era of integration and prosperity.

"By shifting to a people-centered economy instead of a government-led one, more jobs will be created and the middle class will be stronger," he said.

In addition to providing financial support to small-business owners who suffered during the COVID-19 pandemic, Yoon said he will also work on institutional reform.

The daily reported coronavirus infections in the ROK exceeded 300,000 for the first time on Wednesday. The daily count remained above 300,000 on Thursday, with the national caseload rising to more than 5.5 million, according to the Korea Disease Control and Prevention Agency, which has raised the pandemic risk to the highest level.

In a phone conversation on Thursday, Moon Jae-in, the incumbent ROK president, congratulated Yoon on winning the election, Yonhap News Agency reported. The two are said to have discussed ways to ensure a smooth transition of power.

David Tizzard, assistant professor of Korean studies at Seoul Women's University, said the most urgent task for Yoon is to focus on people's livelihoods and welfare, as many people have been living under huge pressure during the pandemic.

"His first responsibility should be the people of the country," Tizzard said, adding that foreign policy should not be an immediate priority for Yoon to address.