National Assembly of South Korea in the context of "First Republic of Korea"

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👉 National Assembly of South Korea in the context of First Republic of Korea

The First Republic of Korea (Korean제1공화국; lit. First Republic) was the government of South Korea from August 1948 to June 1960. The First Republic was founded on 15 August 1948, and it became the first independent republican government in Korea. Syngman Rhee was the first president of South Korea. The National Assembly was created following the May 1948 general election, and the National Assembly in Seoul promulgated South Korea's first constitution in July, establishing a presidential system of government.

In 1947, the United Nations proposed elections under its supervision to establish a unified Korean government. South Korea participated, leading to the formation of the Republic of Korea. The Soviet Civil Administration in northern Korea refused, and North Korea was established separately, which ultimately led to the division. Accordingly, on 12 December 1948, the United Nations recognized the Republic of Korea as the only lawful government in Korea by UN General Assembly Resolution 195. The first republic claimed sovereignty over all of Korea but only controlled Korea south of the 38th parallel until the end of the Korean War in 1953, when the border was modified. The first republic was characterized by Rhee's authoritarianism, limited economic development, strong anti-communism, and by the late 1950s growing political instability and public opposition to Rhee. The April Revolution in April 1960 led to Rhee's resignation and the transition to the second Republic of Korea.

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National Assembly of South Korea in the context of Chaebol

A chaebol (UK: /ˈbəl, ˈbɒl/ CHAY-bəl, CHAY-bol, US: /ˈbl, ˈɛbəl/ CHAY-bohl, JEB-əl; Korean재벌 [tɕɛbɔɭ] , lit.'rich family' or 'financial clique') is a large industrial South Korean conglomerate run and controlled by an individual or family. A chaebol often consists of multiple diversified affiliates, controlled by a person or group. Several dozen large South Korean family-controlled corporate groups fall under this definition. The term first appeared in English text in 1972.

Chaebol have also played a significant role in South Korean politics. In 1988, a member of a chaebol family, Chung Mong-joon, president of Hyundai Heavy Industries, successfully ran for the National Assembly of South Korea. Other business leaders were also chosen to be members of the National Assembly through proportional representation. Hyundai has made efforts in the thawing of North Korean relations, despite some controversy. Many South Korean family-run chaebol have been criticised for low dividend payouts and other governance practices that favor controlling shareholders at the expense of ordinary investors.

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National Assembly of South Korea in the context of Supreme Council for National Reconstruction

The Supreme Council for National Reconstruction (Korean국가재건최고회의) was the ruling military junta of South Korea from May 1961 to December 1963.

The Supreme Council overthrew the Second Republic of Korea in the May 16 coup in May 1961 and established a provisional military government composing largely of officers who were involved in or supportive of the coup. The Supreme Council was headed by the chairman, the de facto head of government with dictatorial powers, while President Yun Posun was retained as a figurehead. The Supreme Council prioritized South Korea's economic development and political stability, suspending the National Assembly and most political freedoms, and founding the Korean Central Intelligence Agency to combat pro-North Korean and other anti-government activity. Park Chung Hee served as Chairman of the Supreme Council from July 1961 until his victory in the 1963 South Korean presidential election, and the Supreme Council was dissolved upon the inauguration of the Third Republic of Korea in December 1963.

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