Today in Korean History

Today in Korean History



Aug. 12

1966 - In an editorial of its main newspaper, the Rodong Sinmun, North Korea
promulgates the policy of "juche," meaning self-reliance, claiming ideological
independence from its allies at that time -- the Soviet Union and China.

1971 - South Korea's National Red Cross suggests to its North Korean counterpart
a joint campaign to locate separated family members in both parts of the Korean
Peninsula. The two sides met a year later to discuss the project but failed to
reach an agreement. The family reunion project materialized decades later, in a
2000 summit meeting between President Kim Dae-jung and North Korean leader Kim
Jong-il who agreed to regularly hold the humanitarian event.

1993 - In a move to fight corruption, President Kim Young-sam puts into effect
the "real-name financial system" banning transactions under phony or borrowed
names and requiring all individuals use their real names to open bank accounts or
purchase stock. The previous non-regulation policy provided a haven for money
laundering and tax evasion.

1999 - Workers from South and North Korea play a friendly soccer match in the
North's capital, Pyongyang.
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