South Korea ’ s President Park Geun - hye declared in her inaugural address delivered Monday , “ I will open a new era of hope whereby the happiness of each citizen becomes the bedrock of our nation ' s strength which in turn is shared by and benefits all Koreans . ” Park Geun - hye was sworn in as Korea ’ s 18 th president in front of 70 , 000 people at the National Assembly plaza , becoming the first female president of the nation . In her inaugural address , Park proposed three key agenda including economic prosperity , happiness of the people and the flourishing of the culture and promised utmost efforts to make more prosperous nation where happiness is felt by all people . As one of her government ’ s three key goals , President Park suggested economic prosperity . “ My government will embark on the making of a ‘ Second Miracle on the Han River ’ premised on a new era of hope hand - in - hand with the Korean people . Park stressed that economic democratization will be a key pillar of her economic policy , along with building a creative economy . “ A creative economy is defined by the convergence of science and technology with industry , the fusion of culture with industry , and the blossoming of creativity in the very borders that were once permeated by barriers . ” Park explained while adding that “ at the very heart of a creative economy lie science technology and the IT industry , areas that I have earmarked as key priorities . ” “ In order for a creative economy to truly blossom , economic democratization must be achieved . 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 , ” said President Park , reaffirming her commitment to economic democratization . As for her second governance agenda of delivering happiness to all citizens , she said “ no matter how much the country advances , such gains would be meaningless if the lives of the people remained insecure , ” and “ a genuine era of happiness is only possible when we aren ’ t clouded by the uncertainties of aging and when bearing and raising children is truly considered a blessing . ” The president ’ s third governance agenda seeks to foster culture . “ In the 21 st century , culture is power , ” said the new leader . “ Creative activities across wide - ranging genres will be supported , while the contents industry which merges culture with advanced technology will be nurtured . In so doing , we will ignite the engine of a creative economy and create new jobs . ” President Park also demonstrated a resolute stance on national security . “ North Korea ’ s recent nuclear test is a challenge to the survival and future of the Korean people , and there should be no mistake that the biggest victim will be none other than North Korea itself , ” said the president in regard to the regime ’ s recent nuclear test . Nonetheless , “ there is no doubt that we are faced today with an extremely serious security environment but neither can we afford to remain where we are , ” said the newly inaugurated president . “ It is my hope that North Korea will abide by international norms and make the right choice so that the trust - building process on the Korean Peninsula can move forward . ” [ Written by Sun - kul Kim - Jieun Lee , Sun - ah Kim / edited by Soyoung Chung ] [ ⓒ Maeil Business Newspaper & mk . co . kr , All rights reserved ]