South Korea hopes to see peace and stability maintained across the Taiwan Strait, a foreign ministry official said Sunday, following the election of a U.S.-friendly president.

Lai Ching-te, vice president of the ruling Democratic Progressive Party, was elected president of the self-ruled democracy on Saturday, defeating his China-friendly rival from the main opposition party.

"We expect peace and stability across the Taiwan Strait to be maintained and the peaceful development of cross-strait relations," the official said, noting peace and stability across the Taiwan Strait is "essential" for peace and stability on the Korean Peninsula and an "essential element" for regional peace and prosperity.

"We hope to continue to enhance practical cooperation with Taiwan in various sectors," the official said adding the South Korean government's "basic position" on Taiwan issues has not changed. (Yonhap)