the country. Eventually, Chun's party, the Democratic Justice Party, and its leader, Roh Tae-woo, announced the June 29 Declaration, which included the direct election of the president. Roh went on to win the election by a narrow margin against the two main opposition leaders, Kim Dae-jung and Kim Young-sam. Seoul hosted the Olympic Games in 1988, widely regarded as successful and a significant boost for South Korea's global image and economy. South Korea was formally invited to become a member of the United Nations in 1991. The transition of Korea from autocracy to modern democracy was marked in 1997 by the election of Kim Dae-jung, who was sworn in as the eighth president of South Korea, on 25 February 1998. His election was significant given that he had in earlier years been a political prisoner sentenced to death (later commuted to exile). He won against the backdrop of the 1997 Asian Financial Crisis, where he took IMF advice to restructure the economy and the nation soon recovered its economic growth, albeit at a slower pace. Contemporary South Korea In June 2000, as part of president Kim Dae-jung's "Sunshine Policy" of engagement, a North–South summit took place in Pyongyang, the capital of North Korea. Later that year, Kim received the Nobel Peace Prize "for his work for democracy and human rights in South Korea and in East Asia in general, and for peace and reconciliation with North Korea in particular". However, because of discontent among the population for fruitless approaches to the North under the previous administrations and, amid North Korean provocations, a conservative government was elected in 2007 led by President Lee Myung-bak, former mayor of Seoul. Meanwhile, South Korea and Japan jointly co-hosted the 2002 FIFA World Cup. However, South Korean and Japanese relations later soured because of conflicting claims of sovereignty over the Liancourt Rocks. In 2010, there was an escalation in attacks by North Korea. In March 2010 the South Korean warship ROKS Cheonan was sunk leading to the death of 46 South Korean sailors, allegedly by a North Korean submarine. In November 2010 Yeonpyeong island was attacked by a significant North Korean artillery barrage, with 4 people dying. The lack of a strong response to these attacks from both South Korea and the international community (the official UN report declined to explicitly name North Korea as the perpetrator for the Cheonan sinking) caused significant anger with