Dictator\'s daughter runs for S.Korea presidency

Park Geun-Hye, the daughter of a former South Korean dictator, on Tuesday formally announced her bid to become the country\'s first woman president and vowed to work for a fairer economy. Park is widely expected to secure the ruling conservative New Frontier Party\'s nomination at its primary next month. She is also considered the front-runner in the December 19 election. \"I will devote my everything to make the Republic of Korea (South Korea) a country in which everybody can achieve their dreams,\" she said in a speech. Park, now 60, narrowly lost the conservative party\'s nomination to Lee Myung-Bak in 2007. He went on to become president but is constitutionally barred from standing again. Park pledged to work for a fair and transparent market economy and to push for \"economic democratisation\" amid a widening wealth gap in Asia\'s fourth largest economy. She also promised to expand welfare programmes and ease tense relations with North Korea. Park\'s father Park Chung-Hee seized power in a coup in 1961 and ruled until his assassination in 1979 by his spy chief. Her mother was shot dead by a pro-North Korean assassin in 1974.