Volta
Person1927 – 2015

Kim Young-sam

14th President (1993–1998). Introduced the real-name financial system and full local autonomy; the 1997 currency crisis came at the end of his term

As president of the New Democratic Party in 1979 he sheltered the sit-in at the party headquarters during the YH Trading Incident, and his expulsion from the National Assembly sparked the Busan–Masan Democratic Protests. He led the Reunification Democratic Party in 1987, joined the Democratic Liberal Party through the Three-Party Merger of 1990 and was elected president in 1992. Proclaiming a 'Civilian Government', he introduced the Real-Name Financial System and asset disclosure for public officials, dismantled the Hanahoe military clique and brought Chun Doo-hwan and Roh Tae-woo to trial. He had the Government-General Building demolished, fully implemented local autonomy in 1995 and announced the National Community Unification Formula. Korea joined the OECD in 1996, but the 1997 currency crisis forced it to take an IMF bailout.

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9 related events

  1. 1
    1979YH Trading Incidentrelated figure

    Women workers of YH Trading, protesting the closure of their company, staged a sit-in at the New Democratic Party headquarters and were forcibly removed by police.

  2. 2
    1979Busan–Masan Democratic Protestsrelated figure

    Students and citizens in Busan and Masan protested against the Yushin system; the government imposed martial law and a garrison decree.

  3. 3
    1987Ninth Constitutional Amendmentrelated figure

    A constitution agreed by ruling and opposition parties introduced direct presidential elections and a single five-year term — the constitution in force today.

  4. 4
    1990Three-Party Mergerleader

    Facing an opposition-controlled National Assembly, the ruling Democratic Justice Party merged with the Reunification Democratic Party and the New Democratic Republican Party to form the Democratic Liberal Party.

  5. 5
    1993Real-Name Financial Systemleader

    The Kim Young-sam government required by emergency decree that all financial transactions be made under real names.

  6. 6
    1994Death of Kim Il Sung and the Kim Jong Il Erarelated figure

    Kim Il Sung died during the first North Korean nuclear crisis, and Kim Jong Il took over, ruling first in his father’s name and then as chairman of the National Defence Commission.

  7. 7
    1994National Community Unification Formulaleader

    The Kim Young-sam government proposed a three-stage path to unification: reconciliation and cooperation, a South–North commonwealth, and a unified state.

  8. 8
    1995Full Implementation of Local Autonomyrelated figure

    The first simultaneous local elections chose local council members and provincial and municipal heads by popular vote.

  9. 9
    1997 – 2001Currency Crisis and IMF Bailoutrelated figure

    With foreign reserves exhausted, South Korea took an IMF bailout; the Kim Dae-jung government restructured the economy and repaid the loans in full in 2001.

People who appear alongside

  • Roh Tae-woo1932 – 2021

    13th President (1988–1993). Announced the June 29 Declaration, became the first president directly elected under the 1987 constitution, and pursued Nordpolitik

  • Kim Dae-jung1924 – 2009

    15th President (1998–2003), the first transfer of power to the opposition by election. Steered recovery from the currency crisis and held the first inter-Korean summit; Nobel Peace Prize 2000

  • Park Chung-hee1917 – 1979

    5th–9th President (1963–1979). Led the May 16 coup, the five-year economic plans and the Yushin system; killed in the October 26 incident

  • Kim Jong-pil1926 – 2018

    Politician who took part in the 16 May coup, headed the Korean Central Intelligence Agency, served as prime minister and joined the 1990 three-party merger

  • Chun Doo-hwan1931 – 2021

    11th–12th President (1980–1988), leading figure of the new military group that seized control in the December 12 incident; tried in 1996 over 12 December and 18 May

  • Kim Il Sung1912 – 1994

    Leader of North Korea (1948–1994): chairman of the Provisional People’s Committee, then premier and president. Purged rivals after the Korean War and built one-man rule

  • Kim Jong Il1941 – 2011

    Son of Kim Il Sung and leader of North Korea (1994–2011). Named successor in 1980; ruled as chairman of the National Defence Commission under "military-first" politics. North Korea gives his birth year as 1942

Themes this person appears in

  • Changing Unification Policies1948 – 2018

    From “march north” to the Panmunjom Declaration — inter-Korean relations from confrontation to dialogue, through joint statements and agreements to summits (up to 2018)

  • Busan1443 – 1979

    Port of the Japan House and of the 1876 opening — Korea’s gateway to Japan, and wartime capital in the Korean War