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Voting begins in S Korea election Voting begins in South Korea poll
(20 minutes later)
South Koreans are voting for a new president after an election campaign blighted by scandal.South Koreans are voting for a new president after an election campaign blighted by scandal.
Conservative candidate Lee Myung-bak is widely expected to win, despite being under investigation for alleged fraud.Conservative candidate Lee Myung-bak is widely expected to win, despite being under investigation for alleged fraud.
Mr Lee's opponents have labelled him a liar. He has denied any wrongdoing and has branded them mudslingers.Mr Lee's opponents have labelled him a liar. He has denied any wrongdoing and has branded them mudslingers.
The candidates are battling to succeed the liberal President Roh Moo-hyun. Official results are expected by 2200 local time on Wednesday (1300 GMT).The candidates are battling to succeed the liberal President Roh Moo-hyun. Official results are expected by 2200 local time on Wednesday (1300 GMT).
Front-runnerFront-runner
According to opinion polls, the main issue for most of the country's 37 million voters is the economy.According to opinion polls, the main issue for most of the country's 37 million voters is the economy.
Mr Lee, a 65-year-old former Hyundai executive, seems to have convinced many that he can attract investment and boost the job market.Mr Lee, a 65-year-old former Hyundai executive, seems to have convinced many that he can attract investment and boost the job market.
In the last opinion poll before the vote, he registered a 30-point lead over his nearest rival, Chung Dong-young, of the ruling liberal United New Democratic Party (UNDP). But his campaign has been overshadowed by claims that he was involved in stock market fraud.
Fights broke out in parliament when South Korean MPs debated a bill to establish an independent inquiry into the allegations.
The BBC's John Sudworth in Seoul says there is uncertainty about what it will mean if South Korea does indeed wake up with Mr Lee as its President Elect on Thursday morning.
THE CANDIDATES Lee Myung-bak: Frontrunner, former Hyundai executiveChung Dong-young: Liberal, member of current cabinetLee Hoi-chang: Veteran conservative Profiles: Presidential hopefulsSouth Korea's "dirty" election
The independent inquiry is set to be completed before the inauguration of the new president in February.
Mr Lee's main rival - Chung Dong-young, of the ruling liberal United New Democratic Party (UNDP) - has said that a victory for Mr Lee would bring disgrace on the country.
In the last opinion poll before the vote, Mr Lee registered a 30-point lead over Mr Chung, a former cabinet minister.
Analysts say the other mainstream challenger, veteran conservative Lee Hoi-chang, has little chance of making an impact.Analysts say the other mainstream challenger, veteran conservative Lee Hoi-chang, has little chance of making an impact.
Mr Roh ends his five-year term in office in February and cannot seek re-election.Mr Roh ends his five-year term in office in February and cannot seek re-election.
A victory for Lee Myung-bak would see his Grand National Party (GNP) return to power for the first time in a decade.A victory for Lee Myung-bak would see his Grand National Party (GNP) return to power for the first time in a decade.