Korea is a democratic republic with power centralized in an executive president. Regional autonomy has been established in 1995.   Promulgated on July 17, 1948, the Korean constitution guarantees individual rights and calls for three independent branches of government: legislative, judicial, administrative.   On August 15, 1948, the government of the First Republic was born. Roh Moo-hyun was elected president in December 2002 and inaugurated as the 16th President of the Republic of Korea on February 25, 2003. He calls his administration "the Participatory Government." The Roh government was born by the strength of the people's power. The voluntary fund-raising and election campaigns by those =itizens who cherish principles and commonsense led to Roh's victory in the presidential election. Administrative districts: 1 capital city, 6 metropolitan cities, and 9 provinces with 73 cities (si), 92 counties (gun) and 69 autonomous wards. National Assembly A unicameral system. As of Nov. 2003, the Grand National Party has 149 assembly seats, while the Millennium Democratic Party 61, new Uri party 47, and non-partisans take 15 seats.   A unicameral system. There are two major parties : the ruling party, the Millenium Democratic Party has 119 assembly seats, while the opposition party, the Grand National Party has 133 seats. (As of Jul. 2000)   Three courts make up the judiciary: the Supreme Court, the High Court, and the District Court. Up to three appeals may be made. There is also a Constitutional Court.   The recent changes to the power structure in North Korea and the easing tension in the peninsula have resulted in increased interests in the settlement of permanent peace in the Korean peninsula and investment opportunities and trade, and the accelerated efforts to resume bilateral dialogue between South and North korea with the eventual goal of reunification.