It's official. Spain's new King Felipe the sixth has been sworn in as the country's head of state, ending his father's 39-year reign.
With more on the historic event, we turn to Paul Yi at the New Center.
Paul, King Juan Carlos is best known for helping Spain transition into a democracy after the death of longtime dictator General Franco.
But what's in store for his son now?
King Felipe the sixth has his work cut out for him as his father -- as you just mentioned -- has left a significant legacy in Spain's modern history.
Felipe ascended to the throne at the stroke of midnight after Juan Carlos formally abdicated on Wednesday.
It's the first royal transition in Spain since democracy was restored in the 1970's.
The swearing-in ceremony at the royal palace... was kept low-key... at a time when many in Spain are suffering economic hardship.
Nonetheless, crowds took to the streets in the capital Madrid... to catch a glimpse of the new king.
"I am here to defend the Spanish monarchy because it's a humble monarchy, it's a monarchy that supports the people. So what we ask from the new king and queen is to take the example of the previous ones."
During his first royal address, the 46-year-old king promised to uphold the constitution and said he had great hope for the future of Spain.
Felipe faces tough challenges ahead in order to restore the reputation of the monarchy -- following a series of scandals -- at a time when many Spaniards are calling for the establishment of a republic.
