TOKYO (REUTERS, BLOOMBERG) - South Korea's President-elect Yoon Suk-yeol and United States President Joe Biden had telephone talks on Thursday (March 10), Yonhap News reported, citing Mr Yoon's party.

Conservative Mr Yoon was elected president in Wednesday's presidential election, with ruling party candidate Lee Jae-myung conceding defeat and congratulating his opponent.

Meanwhile, Japanese Prime Minister Fumio Kishida on Thursday welcomed the election of Mr Yoon and said he hoped to work closely with him to rebuild healthier ties with its neighbour.

"I offer my heartfelt congratulations on his election," Mr Kishida told reporters.

"Especially now as the international community faces major change, healthy Japan-South Korea relations are...indispensable," he said, adding that current "fraught" ties needed to improve.

On Thursday morning, Mr Yoon told supporters and party officials: "The race is over and now we need to be united as one for the sake of the people and the country."

Mr Yoon planned to visit Seoul National Cemetery on Thursday and hold a briefing at 11am local time (10am Singapore time) at the National Assembly.