prices kept on rising. Shortly after Roh's inauguration, the Seoul Olympics took place, raising South Korea's international recognition and also greatly influencing foreign policy. Roh's government announced the official unification plan, Nordpolitik, and established diplomatic ties with the Soviet Union, China, and countries in Eastern Europe. A historic event was held in 1990 when North Korea accepted the proposal for exchange between the two Koreas, resulting in high-level talks, and cultural and sports exchanges. In 1991, a joint communiqué on denuclearization was agreed upon, and the two Koreas simultaneously became members of the UN. Kim Young-sam, 1993–1998 Kim Young-sam was elected president in the 1992 elections after Roh's tenure. He was the country's first civilian president in 30 years since 1962 and promised to build a "New Korea". The government set out to correct the mistakes of the previous administrations. Local government elections were held in 1995, and parliamentary elections in 1996. In a response to popular demand, former presidents Chun and Roh were both indicted on charges linked to bribery, illegal funds, and in the case of Chun, responsibility for the Gwangju massacre. They were tried and sentenced to prison in December 1996. Relations with the North improved and a summit meeting was planned, but postponed indefinitely with the death of Kim Il-sung. Tensions varied between the two Koreas thereafter, with cycles of small military skirmishes and apologies. The government also carried out substantial financial and economical reforms, joining the OECD in 1996, but encountered difficulties with political and financial scandals involving his son. The country also faced a variety of catastrophes which claimed many lives: a train collision and a ship sinking in 1993, the Seongsu Bridge disaster in 1994 and the Sampoong Department Store collapse in 1995. These incidents were a blow to the civilian government. In 1997, the nation suffered a severe financial crisis, and the government approached the International Monetary Fund for relief funds. This was the limit to what the nation could bear and led to the opposition leader Kim Dae-jung winning the presidency in the same year. This is the first time an opposition candidate won the presidency. Kim Dae-jung 1998–2003 In February 1998, Kim Dae-jung was officially inaugurated. South Korea had maintained its commitment to democratize its political processes and this was the first transfer of the government between parties by peaceful means. Kim's government faced the daunting task of overcoming the