History of South Korea
On August 15, 1948, the Republic of Korea was formally established, with Rhee Syngman as the first president. With the establishment of Rhee's government, de jure sovereignty also passed into the new government. On September 9, 1948, a communist regime, the Democratic People's Republic of Korea (North Korea), was proclaimed under Kim Il-sung. However, on December 12, 1948, by its resolution 195 in the Third General Assembly, the United Nations recognized the Republic of Korea as the sole legal government of Korea.
South Korea
South Korea was formally invited to become a member of the United Nations in 1991. The transition of Korean from autocracy to modern democracy was marked in 1997 by the election of Kim Dae-jung, who was sworn in as the eighth president of South Korea, on February 25, 1998. His election was significant given that he had in earlier years been a political prisoner sentenced to death (later commuted to exile). He won against the backdrop of the 1997 Asian Financial Crisis, where he took IMF advice to restructure the economy and the nation soon recovered its economic growth, albeit at a slower pace.