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Dec. 23 1963 South Korea establishes diplomatic ties with Ethiopia. The African country was among 16 countries that sent forces under the United Nations banner to fight in the 1950-53 Korean War. The country forges diplomatic relations with North Korea 12 years later. 1972 President Park Chung-hee is re-elected to another four-year term by his hand-picked electoral college. A few months earlier, Park, a former Army general who seized power in the 1961 coup, had declared martial law and adopted the yushin (revitalizing reform) constitution, which critics said was intended to perpetuate his dictatorial rule. Park is assassinated by his intelligence chief in 1979. 1999 U.S.-based investment fund Newbridge Capital acquires a controlling stake in Korea First Bank, which was weighed down by non-performing loans in the wake of the 1997-98 Asian financial meltdown. Newbridge s takeover of Korea First Bank heralds a flurry of sales of insolvent firms to foreign investors.