The three major broadcasting stations MBC, SBS, and KBS closely monitored the election and declared Moon Jae In as the victor.

All three broadcasting stations revealed that presidential candidate Moon received a total of 41.4% of the vote.  Followed by Hong Jun Pyo with 23.3%, and Ahn Cheol Soo by 21.8% respectively. His rivals conceded victory after the news.

SEE ALSO: Arson suspect dies after setting fire to apartment building following noise complaints

Following, Moon Jae In declared victory and stepped up to the podium and gave a message to the masses. "Thank you. Thank you so much.  This is such a great victory thanks to all of your support in order to create a righteous nation and a nation of unity...I would like to thank the fellow presidential candidates who have walked along in this race together and will work to strive towards a new future in building the new Republic of Korea."

Moon Jae In is the son of North Korean refugees and is a human rights lawyer turned liberal politician. He favors limiting the power of chaebols and has a very different outlook on North Korea compared to the previous administration. He favors dialogue with North Korea as opposed to sanctions and being strict which was favored by Park Geun Hye's administration and the United States. Also on his plate will be the THAAD issue, which was deployed last week, and which Moon Jae In stated that he will thoroughly review it.