Today in Korean history

Today in Korean history
Dec. 23

1963 -- South Korea establishes diplomatic ties with Ethiopia. The African
country was among 16 countries which sent forces under the United Nations banner
to fight in the 1950-53 Korean War. The country forged diplomatic relations with
North Korea 12 years later.

1972 -- President Park Chung-hee is re-elected to a new four-year term by his
hand-picked electoral college. A few months earlier, Park, a former army general
who seized power in a 1961 coup, declared martial law and adopted the "yushin"
(revitalizing reform) constitution which critics said was intended to perpetuate
his dictatorial rule. Park was assassinated by his intelligence chief in 1979.

1999 -- U.S.-based investment fund Newbridge Capital acquires a controlling stake
in Korea First Bank, which was weighed down by non-performing loans in the wake
of the 1997-98 Asian financial meltdown. Newbridge's takeover of Korea First Bank
heralded a flurry of sales of insolvent firms to foreign investors.

2004 -- South Korea reports an outbreak of a mild strain of avian influenza at a
duck farm in the southwestern part of the country. The Ministry of Agriculture
and Forestry said DNA tests found that ducks at the farm in Gwangju, about 330
kilometers south of Seoul, were infected with the low-pathogenic H5N2 virus.
(END)