Park Geun-hye of South Korea's ruling Saenuri Party declared herself a presidential candidate Tuesday, pledging to expand welfare programs and end deep-running mistrust between the two Koreas.

Standing before a gaggle of reporters and supporters at a busy outdoor shopping mall in Seoul, the 60-year-old daughter of former military strongman Park Chung-hee said she will give her all to create a nation where "everyone's dreams can come true."

"I will make the changes you have been yearning for," Park said, laying out her campaign pledges ranging from welfare expansion and job creation to economic democratization.

Amid a sluggish economic recovery and signs of a growing income gap, observers say her image evokes nostalgia for the country's rags-to-riches economic development under the 18-year rule by the former dictator whose legacy is often subject to partisan bickering.

Her popularity among conservative voters and old-timers helped the conservative ruling party win an upset victory in tightly contested parliamentary elections in April, boosting her presidential prospects.

Park, whose previous presidential bid was thwarted in 2007 by incumbent President Lee Myung-bak, distanced herself from Lee's hard-line policy towards the Democratic People's Republic of Korea (DPRK).

"I will end the vicious cycle of mistrust, confrontation and uncertainty in inter-Korean relations," Park said, proposing what she calls a "trust-building process" between the estranged neighbors.

She also indicated a tougher stance on the country's family- owned conglomerates, often dubbed "chaebol", in a departure from Lee's dogged pursuit of corporate tax cuts and deregulations.

While there are a few ruling party heavyweights standing in her way, Park, who has long led opinion polls, is almost certain to clinch the Saenuri presidential nomination in August.

The presidential election will be held on Dec. 19. Lee, whose five-year term ends early next year, is barred by constitution from running for re-election.