ABSTRACT
The Republic of Korea (ROK, or South Korea), a nation that in only a few decades rose from poverty to membership in the Organization for Economic Cooperation and Development (OECD) group of wealthy nations and from military dictatorship to democracy-all the while standing on the front line of the Cold War-has seen few dull moments in its modem history. The years 1997 to mid-1999, covered in this sixth edition of Korea Briefing, proved to be no exception. The two almost simultaneous events framing Korean life in this period were the government's agreement to accept a financial rescue package and economic guidance from the International Monetary Fund on December 3, 1997, and the election of the opposition-party candidate Kim Dae-Jung to the presidency on December 18, 1997.
