An inauguration ceremony for newly-elected South Korean President Yoon Suk-yeol is taking place outside the parliament building in Seoul on Tuesday, involving around 40,000 people and opening a previous presidential administration to public participation, according to media reports.

According to Yonhap agency, Yoon visited an underground bunker of the new presidential administration and attended a briefing by the Joint Chiefs of Staff.

Yoon met with delegations from various nations that attended, including the United Kingdom, Japan, China, and Uzbekistan, as well as US Second Gentleman Douglas Emhoff, China's Vice President Wang Qishan, and Singaporean President Halimah Yacob.

According to Sputnik, newly elected South Korean President Yoon has promised to aid the North's growth if the nation pursues disarmament.

Read more: North Korea: We oppose war, but will retaliate with nukes if attacked

Yoon has urged North Korea to "halt the development of nuclear weapons and take on denuclearization," vowing to work toward a diplomatic process during his inaugural ceremony.

"I will leave the door open for dialogue with North Korea about its development of nuclear weapons, threatening global peace and Asia, for the benefit of a peaceful solution," the President-elect declared.

According to Yoon, the North's denuclearization "will not only establish a long-term peace on the peninsula but will also greatly contribute to Asia's and global peace and prosperity," pledging that South Korea will "improve the living standards of North Koreans in cooperation with the world community."

Read more: US special representative arrives in Seoul to discuss North Korea

South Korea's presidential election, conducted in March, saw a 77.1% voter turnout, with over 34 million individuals voting out of around 44 million registered voters. Yoon received 48.56% of the vote, while Lee Jae-myung of the ruling Democratic Party received 47.83%.