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North Korean Leader Kim Jong-il Dies

North Korea’s state-run media announced on December 19th that North Korean leader Kim Jong-il had died two days earlier while traveling on a train.

Oct. 26th By-elections Marks Emergence of New Political Forces

Independent candidate Park Won-soon won a victory on October 26th in the by-election for Seoul mayor. His victory marked the collapse of existing political forces and the emergence of new ones.

KORUS FTA Ratified, Korea-EU FTA Effectuated

South Korea saw a sharp expansion of its economic territory in 2011 after its free trade agreement (FTA) with the European Union (EU) took effect and its trade pact with the United States was ratified.

South Korea Tops $1 Tln in Annual Trade Volume

The nation topped one trillion dollars in annual trade volume this year for the first time ever.
South Korea became the ninth country in the world to achieve the milestone.

Pyeongchang Selected to Host 2018 Winter Olympics

Pyeongchang in Gangwon Province was selected to host the 2018 Winter Olympics on July sixth.
The South Korean county gained the majority of votes in the first round of voting at the International Olympic Committee's 123rd General Assembly in Durban, South Africa.

Rescue Operation for Korean Freighter Ends Successfully

On January 21st, the South Korean military successfully carried out a rescue operation for a South Korean chemical freighter that was hijacked by Somali pirates.

Financial Sector Rattled by Savings Banks Corruption

The financial sector was rattled this year by the restructuring of savings banks.
The efforts resulted in the closure of insolvent firms that were found to be deeply involved in corruption.

Looted Cultural Assets Return Home

South Korea’s endless endeavors to recover looted cultural assets have yielded fruit this year.
On May 27th, the last batch of the 296-volume Oegyujanggak Uigwe collection arrived in South Korea.

K-Pop Takes World by Storm

Korean Pop music, or K-Pop, took the world by storm this year.
K-Pop concerts sold out in Europe and Japan and a K-Pop singing contest organized by KBS World Radio, the overseas service of the Korean Broadcasting System, saw heated competition.

Comprehensive Programming TV Channels Go on the Air

Four comprehensive programming cable TV channels and one news-only cable channel were launched in South Korea on December first.
The four cable TV channels are JoongAng Daily’s JTBC, Chosun Ilbo’s TV Chosun, Dong-A Ilbo’s Channel A and Maeil Business Newspaper’s MBN.