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Today in Korean history

Today in Korean History 14:00 June 23, 2020

June 24

1910 -- Japan deprives Korea's Joseon Dynasty of its police power before stripping Korea of its sovereignty later that year.

2001 -- A North Korean fishing boat crosses over the Northern Limit Line, the de facto inter-Korean maritime border, in the West Sea before returning northward. The previous month a South Korean fishing vessel crossed into North Korean waters, leading Seoul to suspend the vessel's license for several months.

2008 -- The Seoul appeals court overturns a guilty verdict against Lone Star Funds for stock manipulation, clearing the way for the U.S. equity fund to complete its sale of the Korea Exchange Bank (KEB) to a British lender.

The lawsuit was part of Korea's broader investigation into Lone Star's controversial takeover of the bank in 2003. Prosecutors said government officials artificially understated the bank's ill financial health to help Lone Star purchase it at a below-market price.

In a March 10, 2011, ruling, however, the Supreme Court dismissed the lower court's partial not-guilty decision and sent the case back for a retrial in 2011. In October, the high court then handed down a three-year prison sentence to Yoo Hoe-won, the former head of Lone Star Funds' Korean unit. Yoo's three-year prison term was later upheld by the top court in February 2012.

2013 -- The National Intelligence Service discloses a transcript of the inter-Korean summit meeting held in 2007 amid a political controversy over whether then South Korean President Roh Moo-hyun proposed nullifying the disputed Yellow Sea border with North Korea during the talks. According to the transcript, Roh called for changing the border into a "peace-economy zone."
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