The 29th Summer Olympics have opened in Beijing, China - a nation that has been dreaming of hosting the world event for 100 years.

More than 15-thousand athletes from 204 countries attended the opening ceremony of the Olympics, the biggest in history. President Lee Myung-bak was among 80 world leaders on hand at the ceremony.

South and North Korea have marched together in the 2000 Sydney Olympics and the 2004 Athens Olympics. But negotiations for a joint march at the Beijing Olympiad failed amid strained ties following the launch of the Lee Myung-bak administration.

The opening ceremony featured 15-thousand performers and a dazzling fireworks display.

Over the next 17 days, athletes will compete in 28 events for 302 gold medals. Korea has sent 267 athletes to participate in 25 events hoping to nab ten golds to finish in the top ten.

The Chinese government has declared Friday a holiday in celebration of the nation's hosting of the world's biggest sports event.

Billions of people around the world watched the spectacular opening ceremony of the Olympics considered a coming out party for the communist nation.