BEIJING, Feb. 26 -- South Korea's conservative leader Lee Myung-bak has been sworn in as the country's 17th president in Seoul.

In his inauguration speech, Lee promised to boost the country's economy, and also urged the DPRK to give up nuclear weapons.

Speaking to 60-thousand cheering onlookers, Lee Myung-bak promised to lead South Korea into the future.

Lee Myung-bak, South Korean President, said, "I take an oath as President to preserve the constitution and protect the country. I will maintain the freedom of people and enable the peaceful unification of the two countries and promote the national culture."

Lee Myung-bak is the first South Koran president to come from a business background.

The former construction CEO nicknamed "The Bulldozer" for his can-do image, promised to revive the country's economy and to introduce pragmatic ideals into foreign policy.

Lee Myung-bak, South Korean President, said, "Economic revival is our most urgent task. New engines of growth must emerge assuredly, the economy grow vigorously and more jobs be created. We will start with the government and transform it into a lean and capable organization. We shall increase our effectiveness by applying big-market principles to small government."

Lee said South Korea and the Democratic People's Republic of Korea will open a new horizon in bilateral cooperation if the DPRK abandons its nuclear weapons program and conducts a policy of openness.

He stressed that South Korea will develop a strategic alliance with the US and seek peace and mutual prosperity with South Korea's close neighbors, including Japan, China and Russia.

Lee Myung-bak also promised that South Korea will actively participate in UN peacekeeping operations as well as increase its development assistance.

66-year old Lee Myung-bak turned to politics in his 50s, and was elected into the National Assembly for the first time in 1992.

Ten years later, Lee took office as mayor of Seoul, and was popular during his term.

Lee was formally nominated as presidential candidate in August, and won the presidential election in December.

(Source: CCTV.com)