The Chaebol Returns To The Presidency 1967 [EN]: Chapter 123

123. The Importance of SoBujang

National Assembly.

Assembly members questioned the Minister of Economy and Finance.

“The current inflation is no joke! Why are we, an oil-producing country, still buying crude oil at such high prices? Why is a rich man buying rice from a rice shop?”

“The current government’s policy is to minimize dependence on natural resources. The price of crude oil isn’t high; it’s 20% cheaper than other countries. We have sufficient cost competitiveness, and our trade surplus from exports has increased by an estimated 50% compared to last year. However, the price of imported raw materials is causing inflation. Even so, it’s only about 1/3 of the global average inflation rate. Prices are higher than in previous years, but globally, they are low.”

“Only corporations are thriving, but ordinary people’s salaries can’t keep up with inflation, can they?”

“If we rashly increase the money supply or suppress interest rates, we will distort the economy, and the side effects will be even greater. If the inflation factor is 15%, then salaries should be raised by 15%. The problem with inflation is that expenses increase, but income remains the same. The value of money is relative. If we increase them together, it will stabilize.”

“Which company has raised wages by 15%?”

The minister wore a confident smile.

“I will announce some preliminary statistics that are being compiled. The provisional return on the national pension fund last year was 55%.”

The audience buzzed at the mention of 55%.

The minister added an explanation.

“Currently, the enrollment rate for the national pension fund is 68% of those eligible. The sovereign wealth fund will invest in oil prices and return huge profits to the people. That level of profit is more than enough to compensate for inflation. And from this year, we will raise the minimum wage by the inflation rate. If salaries are significantly increased, the inflation will be sufficiently offset. We cannot control import prices, but we will internally increase real income to offset the effects of inflation.”

The lawmakers and the public were reassured by the government’s meticulous economic measures.

Another lawmaker asked.

“Currently, Toyota cars and Sony electronics from Japan are selling like hotcakes in the United States. We are manufacturing Japanese small cars and home appliances in our country. Why should Korea be a subcontractor for Japan?”

As it was an expected question, the minister explained the answer the President had given.

“Assemblyman, there is no need to envy Japan at all.”

“Are you saying we should just stand by while the bear performs and the Japanese take the money?” [A Korean idiom referring to someone else profiting from one’s efforts.]

“In 5 or 10 years, the situation will be very different. By having Japan’s advanced manufacturing plants in Korea, we will bring about the collapse of Japan’s manufacturing co-prosperity sphere. On the other hand, we will learn their technology, increase the competitiveness of our materials, parts, and equipment, and increase our employment rate.”

“Why is it better to get your hands dirty and receive a salary than to make money sitting down?”

“The economy must be linked to human economic activity, that is, employment, for the economy to be healthy. If you have a lot of money without working, it will be overturned in an instant. The Japanese economy will soon face a major disaster. A strong manufacturing industry is necessary to prevent such a disaster.”

The President confidently predicted that within 10 years, Japan would fall into the abyss of a lost 20 years due to the collapse of real estate and finance because of the economic bubble.

During Chairman Wang’s era, Japan, which enjoyed a boom in the 1980s, would be ruined by excessive consumption and speculation in real estate and the stock market.

President Jung didn’t know, but the President knew the future.

As the era was being brought forward, the collapse of Japan’s boom bubble would come sooner.

The President was using Japan as a lesson to avoid the disaster of an economic boom.

However, lawmakers who did not know the future did not understand this meaning well and thought it was an excuse.

There was no other way but to prove it over time.

The minister explained.

“And because our sovereign wealth fund dominates the shares of Sony and Toyota in Japan, the money Japan earns returns to Korea by that share. That is paid back to the people through the sovereign wealth fund, so there is no need to envy Japan.”

The government gave incentives to companies that increased the localization rate of materials, parts, and equipment, and gave additional subsidies to science, technology, and research occupations for the minimum wage.

*

As the U.S.-China trade agreement was signed, the government revised the Trade Transaction Act at an emergency cabinet meeting to allow trade with communist countries.

It was obvious that manufacturing would be transferred to communist countries with low wages, especially China.

China would become the ‘factory of the world’ within 10 years.

Until then, Korea had to improve its industrial structure to be technology-oriented rather than labor-oriented.

In that way, they were making every effort to quickly acquire the advanced technologies of Japan and the United States.

*

Pyongyang, Workers’ Party Headquarters.

The North also reorganized its system to mark the New Year.

Reflecting the detente era [a period of eased tensions between countries], the following constitution, which had an outwardly separation of powers, was revised and promulgated.

Chapter 1 Politics

– (Article 1) North Korea is an independent socialist state.

– (Article 4) North Korea takes the Juche idea [North Korean ideology of self-reliance] of the Workers’ Party of Korea, which creatively applies “Marxism-Leninism” to the country’s current era, as the guiding principle of its activities.

– (Article 5) North Korea struggles to achieve the complete establishment of socialism in the Northern Hemisphere, to repel external efforts on a national scale, and to peacefully unify the fatherland on a democratic basis to achieve complete national independence.

Chapter 2 Economy

– (Article 19) State ownership is the ownership of all the people. There are no restrictions on the object of state ownership.

Chapter 6 President of the State

– (Article 89) The President is the head of state and represents state sovereignty.

– (Article 93) The President becomes the Supreme Commander of the Republic’s overall military power, Chairman of the National Defense Commission, and directly controls all of the state’s military power.

The main points of the reorganization were that the cabinet system’s prime minister position was elevated to the absolute power of the State President. Furthermore, his younger brother Kim Young-joo and son-in-law Jang Sung-taek were appointed as vice presidents, and Hwang Jang-yop was elected as chairman of the Standing Committee of the Supreme People’s Assembly.

During Chairman Wang’s era, Kim Young-joo, the youngest brother of Chairman Kim, was a powerful successor who paved the way for Chairman Kim’s succession, but he handed over the succession to Kim Jong-il due to deteriorating health and lived in seclusion until he was 101 years old.

Jang Sung-taek played the role of a guardian, but was purged by Kim Jong-un, a grandson, with machine gun bullets, and Hwang Jang-yop, the founder of Juche philosophy, defected.

*

President’s office.

The President, who received a report on the political changes in North Korea from the Director of the Central Intelligence Agency, smiled.

“Hmm, the people I wanted are all placed in the 2nd, 3rd, and 4th positions.”

“That’s right, Your Excellency!”

“Wait a minute, a star from the continent will fall soon.”

“That’s right, Your Excellency!”

“I hope that this will lead the North to shift its direction toward expanding inter-Korean exchanges.”

“They will inevitably be influenced by China.”

*

Beijing, China. Mao Zedong’s residence.

Young women frequently entered and exited Mao Zedong’s bedroom.

After purging his wife, Jiang Qing, there was no one to check his bizarre behavior of lusting after the female body.

These days, Mao Zedong’s interest was no longer pleasure.

It was immortality.

He was dreaming the dream that Qin Shi Huang [First Emperor of China] had failed to achieve.

Mao Zedong’s medical team consisted of 16 of the most skilled doctors and 24 nurses from all over China.

Eight nurses and three doctors were always on standby by Mao Zedong’s side, and his electrocardiogram was checked through a monitor more than three times a day during the three work shifts that took place every eight hours.

Wang, one of the 16 attending physicians, said while preparing for a blood transfusion.

“If we transplant the organs of young political prisoners who are about to be executed one by one, the five internal organs and six bowels will become younger. We are selecting those who match the Chairman’s blood type and constitution.”

“When I think about it, I don’t like putting a knife in my body. Surgery leaves scars.”

“These days, antibiotics are so advanced that people rarely die from surgery, Chairman.”

“That’s for later. The blood just needs to get younger.”

The doctor inserted a blood needle into Mao Zedong’s arm as he lay down.

Mao Zedong was regularly transfused with young people’s blood to rejuvenate his own.

Transfusing with new blood allowed him to maintain a vibrant and firm skin for several weeks.

Despite his old age, Mao Zedong had no fine lines on his face except for a few wrinkles around his eyes.

This blood transfusion was the secret.

As this secret became known, it became fashionable for the wives of high-ranking officials to transfuse blood from young women.

Mao Zedong ignored the doctor’s diagnosis to quit smoking even though he had pneumonia.

He did not believe in modern medicine and believed more in folk remedies, so he often ignored the advice of doctors and refused treatment even when he was sick.

He often fell into a coma and even at the last minute, he still tried to get acupuncture and refused to take medicine.

He, who commanded the continent of 1 billion people, was arrogant enough to believe that he could also reverse the iron rule of birth, old age, sickness, and death.

“As expected, my blood is circulating better after changing my blood.”

Mao Zedong was satisfied with his reddish cheeks in the mirror.

After the blood transfusion was completed and the medical staff left, Mao Zedong’s other attending physician brought in two young women.

The two women, wearing thin cheongsams [traditional Chinese dress] that revealed their figures, were embarrassed.

The doctor said.

“Comrade Chairman, they are unmarried women.”

It was a folk remedy that one would receive vigorous energy by having relations with a virgin.

Since some time ago, this relationship had become a habit after blood transfusions.

“Oh, really. Yang energy must be fresh to receive fresh yin energy. Come here.”

“They are also top-notch in acupressure massage, Chairman.”

“Oh, I’m drawn to qi and blood acupressure these days.”

The doctor ordered the women.

“Devote the energy of the virgin to the Chairman and serve with all your heart!”

“I understand.”

After the doctor left, one woman said.

“My specialty is massage, so shall I do a massage that opens up the qi and blood first?”

“Good! I’m old, so I don’t like intense relationships.”

“Please have a cup of caterpillar fungus tea before the massage.”

To the Chinese, caterpillar fungus [a type of medicinal fungus] was the best tonic.

They also added rhinoceros horn or elephant ivory powder to it and ate it.

Mao Zedong, who had even drunk the tea, lay on his stomach naked, and one woman applied lotion to her hands and massaged Mao Zedong’s entire body, nook and cranny.

A moan came from Mao Zedong’s mouth.

It was called a massage, but it was actually a different kind of contact.

“Um, good~”

They massaged him, applying lotion to his body.

Mao Zedong, unable to bear it any longer, said with lecherous eyes.

“Come up here!”

The women took off their clothes and went up to the bed naked.

But suddenly, Mao Zedong’s lips turned blue and trembled.

“Ugh!”

“What’s wrong?”

“Ugh, my chest….”

He grabbed his chest.

“Keuheok! Heup!”

The whites of his eyes were revealed and he couldn’t breathe.

The two women were terrified and wandered around.

One person said.

“I think he has a cramp. Let’s give him a meridian acupressure.”

The two women stroked his body diligently and stalled for a while.

But Mao Zedong did not breathe.

“What should we do? He’s not breathing!”

“Really?”

When she put her finger to his nose, there was no breath.

His tongue was stiff and saliva was flowing from his mouth.

When I checked his wrist, his pulse was not beating.

“Something’s wrong! We have to call a doctor!”

“Okay. I’ll call him.”

It was only five minutes after she left that the attending physician rushed in.

The attending physician turned pale when he saw Mao Zedong, who had stopped breathing and whose lips had turned black.

“Chairman! Chairman!”

He made an emergency call and summoned the doctors.

He shook his body, gave artificial respiration, and injected stimulants, but the heart that had stopped once did not beat.

It was a symptom that had often occurred in the past, but it had never been this serious.

It was already past the golden time for cardiopulmonary resuscitation.

The attending physician glared at the two women and shouted.

“Damn it! Hey, what happened?”