President Yoon vows to lead South Korea out of crises

He offers to present 'audacious plan' to boost North's economy if it starts denuclearisation

- Chang May Choon

In Seoul South Korea's President Yoon Sukyeol has pledged to build a society based on freedom and fairness, and to lead the nation out of multiple crises, including the Covid-19 pandemic, record-low economic growth and rising unemployment.

“It is our generation's calling to build a nation that espouses liberal democracy and ensures a thriving market economy, a nation that fulfils its responsibility as a trusted member of the international community, and a nation that truly belongs to the people,” he said in his inauguration speech yesterday.

"We can overcome the challenges that we face today and the ones that we will undoubtedly have to face in the future.”

Mr Yoon, 61, was sworn in as South Korea's 20th president in front of about 41,000 people gathered at the National Assembly Plaza. He was accompanied by his wife, Kim Kun-hee, in her first official appearance.

Singapore President Halimah Yacob, United States Second Gentleman Douglas Emhoff, Japan's Foreign Minister Yoshimasa Hayashi and China's Vice-President Wang Qishan were among the 300 foreign guests at the ceremony.