(NEWSER) – Tsai Ing-wen promised a "new era" for Taiwan on Saturday after being elected as the island's first female president.

The 59-year-old, from the pro-independence Democratic Progressive Party, defeated the Nationalist Party's Eric Chu with around 60% of the vote, reports the Los Angeles Times. Tsai will take office in May.

Nationalist President Ma Ying-jeou has already served two terms and Taiwan's constitution didn't allow him to seek a third. "We failed. The Nationalist Party lost the elections. We didn't work hard enough," Chu told supporters at party headquarters, announcing his resignation as party chief.

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