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South Korea swears in new president Moon Jae-in

May 10, 2017, 7:35 AM EDT
South Korea's President Moon Jae-in addresses the media.
(Source: Republic of Korea/flickr)

South Korea’s new leader Moon Jae-in addressed the nation in his first speech as president on Wednesday, vowing to urgently fix the country’s sluggish economy while adding that he is open to a visit to the North to resolve a deepening regional security crisis.

Moon, who is known for his liberal views, took his oath of office in a low-key ceremony that lasted barely 10 minutes in Seoul's National Assembly building, writes the BBC. In contrast to America’s policy of “a hard, militaristic line against Pyongyang,” Moon favors negotiations with the reclusive state.

Moon faces challenges at multiple fronts, be it about restoring public trust after a graft-tainted government or pacifying internal and external allies. The deployment of the Terminal High Altitude Area Defense System (THAAD) in the South has strained Seoul’s relationship with China while there has been some backlash at home also, notes Reuters.