By Jack Kim
SEOUL (Reuters) - The conservative Grand National Party(GNP) of South Korea's new president won a slim majority in aparliamentary election, according to preliminary resultsreleased on Thursday by the National Election Commission.
The GNP won 153 seats in the 299-seat National Assembly,giving President Lee Myung-bak, who took office in February,the majority he needs to implement the business-friendlyeconomic reforms he plans for Asia's fourth-largest economy.
"This is a great victory for the people who wanted theeconomy revived and the nation united," GNP chief Kang Jae-suptold a news conference late on Wednesday.
But the win was short of the commanding lead Lee might havehoped for, intent on radical changes to how the governmentmanages an export-driven economy that faces increasingly toughcompetition from its neighbours.
Lee began his five-year term pledging to boost growth thisyear to 6 percent from 5 percent last year, cut red tapestifling business, win approval for a trade deal with majorally the United States, and open the economy to more foreigninvestment.
The GNP win marked the end of a string of victories forliberals in parliamentary races since the country began open,democratic elections 20 years ago.
The left-of-centre United Democratic Party collected 81seats. Two conservative minority parties picked up 32 seats,with the rest split by minority liberals and independents.
To bolster his grip on power, Lee may need to call on theconservative stalwarts who bolted from the faction-ridden GNPin anger at his leadership.
The new four-year parliament will sit in late May.
Communist North Korea turned up the heat ahead of the racewith threats and taunts. On Tuesday, it branded Lee a traitor,saying his demands for the impoverished state to change itsways were pushing the Korean peninsula back to war.
But voters, accustomed to years of fiery anti-Southrhetoric, appeared to ignore the latest barbs from itsirritable neighbour in a campaign largely devoid of debate onany serious issue.
Lee had been hoping to carry the support from his landslidevictory in December to the National Assembly race but has seenhis high popularity slip as his government stumbled and bungledpersonnel appointments.
The damage from a global economic downturn began to lookfar more serious for South Korea just as he took office, withsome analysts calling his growth target far too optimistic.
(Editing by Mary Gabriel)
