Important historical figure Kim Dae-jung, former president of the Republic of Korea, passed away today. He is best known for winning the Nobel Peace Prize in 2000 for seeking reconciliation with North Korea. He was 85. A hospital official where he was being treated for pneumonia said that he died of heart failure.
Kim led a dramatic life, going from being imprisoned as a political dissident by a dictatorial government in 1976, to becoming president of the same country in 1998, and was known popularly by his initials "DJ." He also met and embraced North Korean leader Kim Jong-il in an historic event, the culmination of his efforts to create the Sunshine Policy, a policy of generosity towards North Korea.
The Korean economy skyrocketed during Kim Dae-jung's presidency, as the KOSDAQ gained new heights. He worked hard to improve the Korean economy by way of the IT industry. Under his administration, the Korean government poured hundreds of millions of dollars into a Korea Venture Investment Fund which supported the formation of small and medium Korean enterprises. Also, companies certified as venture companies got tax breaks and enjoyed other incentives. His presidency transformed the country forever.
