SOUTH KOREA’S “sunshine policy” towards the North looked set to break through the clouds yesterday after Moon Jae In won the presidency by a landslide.

Liberty Korea Party candidate Hong Joon Pyo and Ahn Cheol Soo of the People’s party conceded defeat after exit polls showed Mr Moon gaining 41.4 per cent of the vote to their respective tallies of 23.3 and 21.8 per cent.

“I hope today will open the door for a new Republic of Korea,” Mr Moon told supporters.