Today in Korean history

March 3

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.
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