The push for heavy and chemical industries gathered pace, and Pohang Iron and Steel completed its first-phase plant, signaling a shift in the country's industrial structure. Politically, the abduction of Kim Dae-jung in Tokyo became a diplomatic issue between Korea and Japan, and the first oil shock at year's end weighed on the economy.
The year in Korea
JunPresident Park issued the June 23 Declaration on peaceful unification, signaling openness to both Koreas joining the UN. [Source]
JulPohang Iron and Steel (now POSCO) completed its first-phase plant and began full operations. [Source]
AugKim Dae-jung was abducted from a Tokyo hotel by Korean CIA agents and later released in Seoul. [Source]
OctThe Soyanggang Dam, a multipurpose dam on the Bukhan River system, was completed. [Source]
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Around the world
JanThe Paris Peace Accords were signed to end the Vietnam War. [Source]
OctProduction cuts and an embargo by Arab oil producers triggered the first oil crisis. [Source]
Songs, shows & trends
Books
Choi In-ho – “Hometown of Stars” — Serialized in a newspaper, it came out as a book in 1973 and became a bestseller. [Source]
Sports
Women's team title at the World Table Tennis Championships in Sarajevo — Led by players including Lee Ailesa, Korea's women's team won the country's first world title in a ball sport. [Source]
Year League: the best year
Sources
Each [Source] link points to the Wikipedia article for that item. Wikipedia content is available under CC BY-SA. More about this year on Wikipedia