South Korea’s first female president has been sworn in on Monday, promising economic revival and a tough stance on national security

South Korea’s first female president has been sworn in on Monday, promising economic revival and a tough stance on national security.

“In order for a creative economy to truly blossom, economic democratization must be achieved,” Park Geun-hye said during her inauguration speech, which was attended by thousands of people in the capital, Seoul.

“I believe strongly that only when a fair market is firmly in place, can everyone dream of a better future and work to their fullest potential,” she added.

Park, who is the 61-year-old daughter of South Korea’s former military ruler Park Chung-hee, also called on North Korea to give up its “nuclear ambitions.”

“I urge North Korea to abandon its nuclear ambitions without delay and embark on the path to peace and shared development,” the South Korean president stated.

On February 12, North Korea announced that it had successfully carried out its third underground nuclear test, which involved a “miniaturized” device and was conducted in a “perfect manner.”