"marking the first time an opposition party candidate had won a presidential election in South Korea". Democracy According to Kim Dae-jung, democracy is essential to the people of South Korea because it gives the people some sense of ownership over their nation. It gives them freedom and motivates them to defend it. Kim Dae-jung admits that because of Korean's history and culture which was heavily influenced by Buddhism and Confucianism, it is difficult for South Korea to adapt to Democracy. Democracy is an idea that was invented by the Western civilization. However, this instrument can be used in South Korea if the people of South Korea want to serve under the principles of democracy which is freedom, justice, and human dignity. Kim Dae-jung argues that South Korea does yearn for democracy. Even when you look at the history of the Tonghak Rebellion, this resistance occurred because the peasants wanted equality and less corruption. Even before South Korea became a democratic nation, the people wanted this political government. Kim Dae-jung believes that the most ideal economic system for a democratic nation would be a free enterprise system. However, he argues that although South Korea claims to be a democratic nation with free enterprise, this nation does not follow its principles. There is no free competition. South Korea is filled with big corporations with monopolies that are protected by the government which eliminates all competition. Also, he argues that in a free enterprise system, society and government should be able to provide and protect the working class. He even goes on to say that "the workers in our country are the other major role players". However, the authoritarian government abuses these workers and their freedom. They are treated unjustly and are not fairly rewarded. Also, there is no balance between the social classes. There is such a huge division between the higher class and the lower class which consists of farmers, workers, and small business men. In order for South Korea to break out of its shell, a balanced growth is necessary. Presidential Inaugural Address: 1998 Meanwhile, The infamous Asian financial crisis set forth in 1997, while the election was taking place. Foreign reserves were diminishing and economic issues such as high cost and low efficiency were threatening South Korea's investors. In his presidential inaugural address in February 1998, Kim Dae-jung addressed the economic standpoint of the country at the time. Kim