South Korea's incoming president focused on economy

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But the ambitious campaign promises that helped Lee Myung-bak to a landslide win in December's election, and ended a decade of liberal rule, face major challenges from a slowing global economy and ferocious competition from powerful neighbours.

The former construction company CEO will be inaugurated on February 25 in front of an audience including Japanese Prime Minister Yasuo Fukuda and U.S. Secretary of State Condoleezza Rice.

Lee's victory was never really in doubt, attributed in large part by analysts to widespread disillusion among voters with the outgoing liberal government of Roh Moo-hyun, who was seen as a lacklustre leader of the world's number 13 economy.

The incoming president has also vowed to be tougher than his predecessor with North Korea if it continues to resist international pressure to dismantle its nuclear threat, but to reward it handsomely if it complies.

"I will repay you by exerting all my efforts in sincerely caring for you and reinvigorating the economy," a relieved Lee was quoted this week as saying after investigators cleared him - for the second time - of fraud allegations.

Lee, 66, moved to politics after a prominent career as a CEO of the construction arm of the giant Hyundai conglomerate.

A stint as mayor of Seoul - which with its satellite cities is home to half South Korea's population - won him a reputation as a go-getting leader able to push through big projects on time.

"His hobby is work," said one academic who works in the Lee camp.

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