South Korean President Yoon Suk-yeol has expressed his intention to promote dialogue with the opposition camp following his party's crushing defeat in a parliamentary election held last Wednesday.

The ruling People Power Party suffered a major blow when the opposition parties retained their majority.

On Tuesday, Yoon attended a Cabinet meeting for the first time since the election.

He told the meeting that the administration must respectfully accept the public sentiment revealed in the general election. He said he will communicate with a humbler and more flexible attitude, and listen carefully to the voices of the public.

He said even though he set the right direction for state affairs and did his best to achieve his goals, he believes that he lacked the effort required to methodically implement his policies.

He said he will continue to pursue three major reforms in labor, education and pensions, as well as medical reform. He vowed to cooperate closely with the National Assembly and explain to the chamber the draft budget and legislation necessary to stabilize people's lives.

Yoon is apparently busy deciding on his administration's lineup as senior members of his team, including Prime Minister Han Duck-soo, offered to resign after the elections results came in.

Yoon will begin the third year of his five-year term next month. He will be the first president since the country's democratization in 1987 to work with an opposition-controlled parliament for his entire term.