Seoul: In a significant development in Korean history, South Korea and the United States signed a treaty for amicable trade in 1956. This landmark agreement laid the foundation for economic cooperation and strengthened bilateral relations between the two nations.

According to Yonhap News Agency, several notable events have marked Korea’s progress over the years. In 1972, Seoul’s population reached 6 million as a result of accelerated rural-urban migration, driven by the country’s rapid industrialization. In 1986, Samsung Electronics achieved a technological milestone by developing the world’s first miniature 4-millimeter videotape recorder.

In 2003, a gymnasium named after the late South Korean business tycoon Chung Ju-yung opened in Pyongyang. The opening ceremony saw participation from senior figures of the Hyundai business group, which is a leading South Korean investor in North Korea, along with government officials. The gymnasium’s construction took three years to complete.

The United States announced a significant delay in 2004 regarding its plan to reduce the number of troops stationed in South Korea. In 2008, President Lee Myung-bak proposed a tripartite summit with Japan and China, to be held alongside the Asia-Europe Meeting, aiming to enhance regional cooperation.

South Korea and the European Union sealed a bilateral free trade agreement in 2010, further strengthening economic ties. In 2012, a North Korean soldier defected to South Korea after fatally shooting two superiors.

The Supreme Prosecutors Office attributed the deadly sinking of the 6,825-ton Sewol ferry in 2014 to cargo overloading, an illegal redesign of the ship to increase its cargo capacity, and the steersman’s inadequate helmsmanship. In 2016, Typhoon Chaba resulted in seven fatalities in southern South Korea, with three more people missing due to strong winds and heavy rains in the region.