By Hyonhee Shin and Jack Kim SEOUL (Reuters) – Conservative South Korean opposition candidate Yoon Suk-yeol was elected president on Wednesday in one of the closest fought races in recent history which will shape Asia’s fourth-largest economy for the next five years. Yoon, from the main opposition People Power Party, edged out the ruling Democratic Party’s Lee Jae-myung with 48.6% of the vote to 47.8%, with more than 98% of the ballots counted as of 4.20 a.m. on Thursday (1920 GMT Wednesday). Lee conceded defeat and congratulated his opponent. “I did my best, but failed to live up to your expe…

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