"Bulldozer" Lee steams to South Korea primary win

SEOUL, Aug 20 (Reuters) South Korea's main opposition party picked Lee Myung-bak today to be its presidential nominee, making the former business magnate and Seoul mayor the clear favourite for the country's top post.

Lee, 65, beat Park Geun-hye, 55, a former dictator's daughter hoping to become the country's first woman president at the December election. The winning margin was about 1.5 percentage points, the party said.

''We will take back the government,'' Lee told a boisterous crowd of some 15,000 at the Grand National Party's (GNP) convention.

The conservatives, who promise lower taxes and pro-business policies, have seen their support grow as that of left-leaning outgoing President Roh Moo-hyun has faded.

''Lee's strengths are his accomplishments in the economic sector and that he is a self-made man,'' said Yang Seung-ham, professor of political science at Yonsei University.

Lee, with an overall support rate of about 40 per cent, is well ahead of the leading contenders for the election from a splintered left, whose top presidential candidates have at best mustered 5 percent support.

Nicknamed ''the bulldozer'' for his relish for pushing through public works projects, Lee has promised to roll back business-throttling regulations, rein in disruptive labour unions and open the country more to foreign investors.

PRO-BIG BUSINESS Kim Il-young, a political science professor at Sungkyunkwan University in Seoul, said the top issue for voters was the economy.

''Lee is relatively more pro big business,'' Kim said, adding that even though the high-flying executive at the centre of the country's economic transformation won the primary ''He has a lot to worry about''.

Lee has recently been targeted by prosecutors -- and GNP opponents -- over suspect land deals more than a decade ago, allegations that threaten to tarnish his reputation.

GNP leaders are nervous that the viciousness of the nomination campaign could cost them votes and their commanding lead in the race to take over the presidential Blue House.

Lee called for unity in his acceptance speech.

''I call upon Park Geun-hye to play the central role in taking back government and I believe she will accept it.'' GNP leaders met late last week to draw up an agreement that the losing camp would accept the outcome of yesterday's vote and not undermine the winner's bid for the presidency.

Under election laws, the primary loser cannot run as an independent in the presidential race.

Though he pledges to be tough on an errant North Korea, he has proposed an ambitious aid plan that could send billions of dollars Pyongyang's way on condition it lives up to a deal with regional powers to ditch nuclear weapons.

At home, he has also promised to support the private sector construction of a multi-billion-dollar waterway connecting Seoul to the southern port of Busan.

REUTERS SW KP1350