The Wild Lily Student Movement was a six-day demonstration in March 1990 aimed at promoting democracy in Taiwan. Initiated by students from National Taiwan University, the sit-in took place at Memorial Square in Taipei (later renamed Liberty Square in honor of the movement) and saw participation swell to 22,000 demonstrators. The protesters, adorned with white Formosa lilies as a symbol of democracy, demanded direct elections for Taiwan's president and vice president, as well as new popular elections for all representatives in the National Assembly. The demonstration coincided with the inauguration of Lee Teng-hui, who had been elected under the one-party rule system of the Kuomintang.

On the first day of his term, President Lee Teng-hui met with fifty student representatives and expressed his support for their democratic aspirations, promising to initiate democratic reforms that summer. This student-led movement marked a significant turning point in Taiwan's political landscape, setting the stage for democratic reforms. Six years after the movement, Lee became Taiwan’s first popularly elected leader in an election with over 95% voter turnout. Subsequent commemorations of the movement continue to be held every March 21st, and there have been calls to move Taiwan's Youth Day to this date in recognition of the students' contributions to democracy.

The impact of the Wild Lily Student Movement is particularly striking when contrasted with the Chinese government's response to the Tiananmen Square protests, which took place just a year before the Taiwanese movement. Chen Shui-bian, Lee's successor, pointed out the stark difference in the two governments' handling of student protests. While the Tiananmen protests ended in a violent crackdown, the Taiwanese movement led to tangible democratic reforms, including the National Assembly voting to dissolve itself in 2005.