New South Korea leader 'to develop regions'

South Korea has elected its first female president: the conservative governing party's candidate, Park Geun-hye.

Her father ruled the country for 18 years after seizing power in a coup.

Ms Park's Saenuri Party holds a narrow majority in parliament and is said to favour lower taxes and big business.

Rajiv Biswas, chief economist for the Asia Pacific at IHS Global Insight says she is likely to spend more on regional development and welfare.