Economic Growth 9 Inflation 9 Exchange Rates 9 External Sector 10 Forecast Summary 11 Quarterly Forecasts
South Korea - Timeline 1 May 2018 A chronology of key events: 1945 - After World War II, Japanese occupation ends with Soviet troops occupying area north of the 38th parallel, and US troops in the south. 1948 - Republic of Korea proclaimed. The Korean war (1950-1953) killed at least 2.5 million people. It pitted the North - backed by Chinese forces - against the South, supported militarily by the United Nations In Depth: The Korean War On This Day 1950: UN condemns North Korean invasion 1950 - South declares independence, sparking North Korean invasion. 1953 - Armistice ends Korean War, which has cost two million lives. 1950s - South sustained by crucial US military, economic and political support. 1960 - President Syngman Ree steps down after student protests against electoral fraud. New constitution forms Second Republic, but political freedom remains limited. Coup 1961 - Military coup puts General Park Chung-hee in power. 1963 - General Park restores some political freedom and proclaims Third Republic. Major programme of industrial development begins. 1972 - Martial law. Park increases his powers with constitutional changes. After secret North-South talks, both sides seek to develop dialogue aimed at unification. 1979 - Park assassinated. General Chun Doo-hwan seizes power the following year. Gwangju massacre 133 Hundreds died as troops fired on 1980 rally 2005: Lingering legacy of Korean massacre 1980 - Martial law declared after student demonstrations. In the city of Gwangju army kills at least 200 people. Fifth republic and new constitution. 1981 - Chun indirectly elected to a seven year term. Martial law ends, but government continues to have strong powers to prevent dissent.
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