Yoon Suk Yeol of the main opposition People Power Party(PPP) said on Thursday that his win in the presidential election was a "victory of the great people."

Yoon made the remarks to party officials at the National Assembly after his presidential victory was confirmed early on Thursday. The former prosecutor general won the presidency against the ruling Democratic Party's Lee Jae-myung by a margin of less than one percentage point.

Yoon said that the heated race has ended and he will now consider national unity as his top priority.

Lee admitted defeat early Thursday morning and congratulated Yoon on his victory, asking him to open an era of national unity and harmony.

Lee also apologized to supporters, saying that he did his best but failed to meet their expectations due to his shortcomings.

Sim Sang-jung of the Justice Party, who came in a distant third, said she humbly accepts the results, adding that her party will run again.