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          The Kim Young Sam Administration

          The election for the 14th presidential term was held on December 18, 1992. The three major candidates were the ruling DLP's Kim Young Sam, the opposition Democratic Party's Kim Dae-jung, and the newly founded United People's Party candidate Chung Ju-yung, founder of the Hyundai Group.

          Kim Young Sam was elected, winning 42 percent of the votes, outpacing Kim Dae-jung, his former opposition party colleague and fellow participant in the fight against authoritarian regimes.

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          5. Chung Ju-yung did not do as well as some had expected. Kim's election returned Korea to the hands of a democratically elected civilian President for the first time since the military coup d'etat of 1961.

          In his inaugural remarks on February 25, 1993, President Kim Young Sam vowed publicly to build a "New Korea," pledging to fight corruption in the public and private sectors and to revitalize Korea's straining economy.

          President Kim called on the Korean people to join