(VOVworld) - Tsai Ing-wen, a candidate of the Democratic Progressive Party (DPP), won Taiwan's leadership election on Saturday, according to the final result of ballot counting released by the island's election commission.

The former law professor has made history by winning the election (Photo: Getty Images)

In a speech at the Kuomintang (KMT) headquarters in Taipei, Tsai's rival KMT candidate Eric Chu admitted defeat, saying he would take responsibility and resign from the post of KMT chairman.

Eric Chu's loss shows the KMT has lost a nearly 70-year monopoly on power.

The same day, about 18 million Taiwanese voters cast their vote for the new term of the legislative body.