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South Korea – Olympic Games 1988 in Seoul – Commemorative issue
1987 Silver 5000 Won 32mm (16.76 grams) 0.925 Silver (0.4999 oz. ASW)
Reference: KM# 61
제 24회 서울 올림픽대회 한국은행 1987 오천원, National Coat of Arms above, floral spray below.
XXIV OLYMPIAD SEOUL 1988 5000 WON, Chengi – kicking competitors.
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 The 1988 Summer Olympics, officially known as the Games of the XXIV Olympiad (Korean: 서울 하계 올림픽; –夏季—; Seoul Hagye Ollimpik;), was an international multi-sport event celebrated from 17 September to 2 October 1988 in Seoul, South Korea. These games were the second Summer Olympic Games hosted in Asia, after the 1964 Summer Olympics were held in Tokyo, Japan. They were the first Olympic Games ever held in South Korea.
In the Seoul Games, 159 nations were represented by a total of 8,391 athletes: 6,197 men and 2,194 women. 237 events were held and 27,221 volunteers helped to prepare the Olympics. 11,331 media (4,978 written press and 6,353 broadcasters) showed the Games all over the world.
These were the last Olympic Games for the Soviet Union and East Germany, as both ceased to exist before the next Olympic Games.
The games were boycotted by North Korea and its ally, Cuba. Ethiopia, Albania and the Seychelles did not respond to the invitations sent by the IOC. Nicaragua did not participate due to athletic and financial considerations. The participation of Madagascar had been expected, and their team was expected at the opening ceremony of 160 nations. However, the country withdrew because of financial reasons. Nonetheless, the much larger boycotts seen in the previous three Summer Olympics (1976, 1980 and 1984) were avoided, resulting in the largest ever number of participating nations during the Cold War era.
 South Korea, officially the Republic of Korea (ROK), is a country in East Asia, constituting the southern part of the Korean Peninsula and lying east to the Asian mainland. The name Korea is derived from Goguryeo which was one of the great powers in East Asia during its time, ruling most of the Korean Peninsula, Manchuria, parts of the Russian Far East and Inner Mongolia, under Gwanggaeto the Great. South Korea lies in the north temperate zone and has a predominantly mountainous terrain. It comprises an estimated 51.4 million residents distributed over 100,363 km2 (38,750 sq mi). The capital and largest city is Seoul, with a population of 10 million.
 Archaeology indicates that the Korean Peninsula was inhabited by early humans starting from the Lower Paleolithic period (2.6 Ma-300 Ka). The history of Korea begins with the foundation of Gojoseon in 2333 BC by the legendary king Dangun. Following the unification of the Three Kingdoms of Korea under Unified Silla in AD 668, Korea was subsequently ruled by the Goryeo dynasty (918-1392) and the Joseon dynasty (1392-1910). It was annexed by the Empire of Japan in 1910. At the end of World War II, Korea was divided into Soviet and U.S. zones of occupations. A separate election was held in the U.S. zone in 1948 which led to the creation of the Republic of Korea (ROK), while the Democratic People’s Republic of Korea (DPRK) was established in the Soviet zone. The United Nations at the time passed a resolution declaring the ROK to be the only lawful government in Korea.
 The Korean War began in 1950 when forces from the North invaded the South. The war lasted three years and involved the U.S., China, the Soviet Union and several other nations. The border between the two nations remains the most heavily fortified in the world. Under long-time military leader Park Chung-hee, the South Korean economy grew significantly and the country was transformed into a G-20 major economy.[26] Military rule ended in 1987, and the country is now a presidential republic consisting of 17 administrative divisions.
South Korea is a developed country and a high-income economy, with a “very high” Human Development Index, ranking 22nd in the world. The country is considered a regional power and is the world’s 11th largest economy by nominal GDP and the 12th largest by PPP as of 2010. South Korea is a global leader in the industrial and technological sectors, being the world’s 5th largest exporter and 8th largest importer. Its export-driven economy primarily focuses production on electronics, automobiles, ships, machinery, petrochemicals and robotics. South Korea is a member of the ASEAN Plus mechanism, the United Nations, Uniting for Consensus, G20, the WTO and OECD and is a founding member of APEC and the East Asia Summit.
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