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  • N Korea defies US with new missile launches
    SEOUL ? North Korea fired seven ballistic missiles yesterday, South Korea's defence ministry said, in an act of defiance towards the United States on its Independence Day that further stoked regional tensions. South Korea's Yonhap news agency said the
  • Don't aggravate tensions, US warns N Korea
    Salvo...North Korea fired seven Scud missiles (r) into the Sea of Japan. (Reuters: Lee Jae-Won, file photo) The United States has urged North Korea not to 'aggravate tensions' as it slammed Pyongyang's latest missile test, apparently timed for the US
  • US says North Korea should not 'aggravate tensions'
    WASHINGTON: The United States urged North Korea on Saturday not to 'aggravate tensions' as it slammed Pyongyang's latest missile test, apparently timed for the US Independence Day holiday, as 'not helpful.' 'North Korea should refrain from actions that
  • Won leads weekly advance in Asia as export slump eases
    Asian currencies gained last week, led by South Koreas won, as data indicated regional exports are improving as a global recession abates. The won snapped a three-week losing streak as overseas investors bought more Korean stocks than they sold on each
  • N Korea fires seven more missiles
    North Korea test-fired seven ballistic missiles yesterday, on US Independence Day celebrations, South Korean officials said, further fueling regional tensions amid its nuclear standoff. Seouls foreign ministry said all seven of the weapons launched into
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After World War II, a republic was set up in the southern half of the Korean Peninsula while a communist-style government was installed in the north. The Korean War (1950-53) had US and other UN forces intervene to defend South Korea from North Korean attacks supported by the Chinese. An armistice was signed in 1953 splitting the peninsula at the 38th parallel known as the DMZ. Thereafter, South Korea achieved rapid economic growth, with per capita income rising to 13 times the level of North Korea. In 1997, the nation suffered a severe financial crisis from which it continues to make a solid recovery. South Korea has also maintained its commitment to democratize its political processes. In June 2000, a historic first south-north summit took place between the south's President KIM Dae-jung and the north's leader KIM Chong-il. In December 2000, President KIM Dae-jung won the Noble Peace Prize for his lifeling committment to democracy and human rights in Asia. He is the first Korean to win a Nobel Prize.

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