Today in Korean history (March 3)
Mar 3, 2017
•1949 -- South Korea establishes diplomatic relations with the Philippines.
•1956 -- South Korea launches the Korea Stock Exchange, the country's first stock market operator for the main bourse.
•1973 -- The Korean Broadcasting System (KBS), a state-run television and radio network, is launched.
•1981 -- Chun Doo-hwan, a former Army general, takes office as South Korea's 12th president after being elected by a hand-picked electoral college. Chun seized power in a coup in 1980 after his predecessor, Park Chung-hee, was assassinated. Chun ruled from 1981-88.
•1998 -- President Kim Dae-jung announces his first Cabinet lineup. Kim went on to hold a historic summit with North Korean leader Kim Jong-il in 2000 and won the Nobel Peace Prize later that year for his efforts to promote democracy and human rights, as well as reconciliation with the communist state.
•2015 -- The National Assembly passes an anti-corruption bill known as the "Kim Young-ran Law" after months of wrangling over whether it violates an individual's constitutional rights. The new law subjects public officials, journalists and private school faculty to a maximum penalty of three years in prison or five times the amount they accepted in money or valuables if they take money or valuables worth more than 1 million won (US$908) from one person in one installment, regardless of whether it was in exchange for favors or related to their work.