Tough time ahead for new South Korean president

Ms. Park Geun-hye, the first woman to lead South Korea, succeeds President Lee Myung-bak, of the same Saenuri Party, who stepped down as the law required after a five-year term. She is the daughter of former military strongman Park Chung-hee, who ruled South Korea for almost two decades.
Ms. Park, who defeated liberal and human rights activist, Moon Jae-in in the December's presidential election, took the oath of office on February 25.
Many people of the "50s/60s generation" supported her because she held her head high and joined politics after her mother and father were assassinated. She has not married, and is fully committed to the welfare of the people.
She takes office amid high tensions on the Korean peninsula in the wake of a North Korean nuclear test on February 12. In her inauguration speech, Ms. Park said she would "not tolerate any action that threatens the lives of our people and the security of our nation." Park promised a tough stance on national security and an era of economic revival as she was sworn in as South Korea's president.
Her challenges include:
* Reviving the economy;
* Removing gross income inequality among rich and poor, and
* Managing North Korea and removing South Korea's concerns

South Korea's economic growth has slowed, the population is rapidly ageing, and demands for a fairer division of wealth are now being voiced on both sides of the political divide, reports the BBC's Lucy Williamson from Seoul.
Although South Korean economy is the 15th in the world, and Asia's 4th largest, the income disparity between the rich and poor is stark. Furthermore, people are unhappy over education and employment prospects for the youth.
Since 2006, the number of residents living in relative poverty has jumped 10%. In October last year, the Bank of Korea, the nation's central bank, lowered its growth forecast for next year to 2.4% from its previous prediction of 3%. Almost one-fifth of the population earns less than half the national average income, according to Statistics Korea, a government agency.
In a speech at the headquarters of her Saenuri political party on February 21, she invoked a phrase coined by her father, who also served as president and encouraged the people to pull South Korea out of poverty. "I would like to re-create the miracle of 'let's live well' so people can worry less about their livelihood and young people can happily go to work," Park said.
After assuming presidency, she said South Koreans stood at a new juncture, confronting the difficulties of the global financial crisis as well as the threat from the North. "I will usher in a new era of hope whereby the happiness of each citizen becomes the bedrock of our nation's strength, which in turn is shared by and benefits all Koreans," she said.
Ms. Park promised more focus on a "creative economy" founded in "economic democratisation" that would expand beyond existing markets and sectors. Policies would be formulated to help small and medium-sized enterprises flourish. She has to compete with products of the Japanese companies which are becoming competitive again globally because of the fall of Japanese currency (20%) against dollar.
Ms. Park said: "By rooting out various unfair practices and rectifying the misguided habits of the past, we will provide active support to ensure that everyone can live up to their fullest potential," she added, in an apparent nod to resentment towards the country's giant "chaebol" conglomerates.
She also promised a "clean, transparent and competent government." "I will endeavour to shed popular distrust of government and strive to elevate the capital of trust," she said.
Calling on North Korea to abandon its nuclear ambitions, she said that in a challenging security environment South Korea could not "afford to remain where we are."
She visited the North Korean capital in 2002 and met with its late leader Kim Jong Il. Since then, his son Kim Jong Un has taken over in Pyongyang, continuing a policy of defiant work on the country's budding nuclear programme, including a test earlier this month that drew widespread international condemnation.
A trust-building process was needed, she said, promising to move forward "step-by-step on the basis of credible deterrence." "Trust can be built through dialogue and by honouring promises that have already been made," she said. "It is my hope that North Korea will abide by international norms and make the right choice so that the trust-building process on the Korean Peninsula can move forward."
North Korea's nuclear test -- its third -- followed its apparently successful launch of a three-stage rocket to put a satellite into orbit in December. That launch was condemned by the US Security Council as a banned test of missile technology; diplomatic efforts to agree on a response to the nuclear test are ongoing.
Ties between the two Koreas chilled considerably under President Lee Myung-bak over his move to link aid to concessions on the nuclear issue. Ahead of the election, Ms. Park had spoken out on the need for more dialogue but the recent nuclear test may make it harder for her to appear conciliatory towards Pyongyang, observers say.
Her success as president will be measured how she addresses the vital issues mentioned in earlier paragraphs. Moreover, being aware of the fact that younger Koreans and residents of the key southwestern region (Cholla) voted overwhelmingly for her rival human rights activist Moon Jae-in, Ms. Park is likely to pursue her conservative policy with due care and moderation.
Park Geun-hye made history by becoming South Korea's first female president in a deeply patriarchal country. According to the Organization for Economic Co-operation and Development, South Korea ranks 108 among 135 countries in terms of gender inequality.

The writer is a former Bangladesh Ambassador to the UN, Geneva.