President Yoon Suk Yeol said on Thursday that he will humbly accept the people's will expressed in Wednesday's general elections and will do his best to reform state administration and stabilize the economy and people's livelihoods. 

Presidential Chief of Staff Lee Kwan-sup said in a press briefing that Yoon made the remarks on Thursday. 

The remarks came after the ruling People Power Party(PPP) suffered a crushing defeat in Wednesday's parliamentary elections, with the PPP and its sister party securing a total of just 108 seats in the 300-member National Assembly.

A senor official at the top office told reporters that the president thinks that the election outcome is the public’s evaluation of his administration, adding the office will soon have the time to reflect on the election results.