The Chaebol Returns To The Presidency 1967 [EN]: Chapter 131

131. Scandal

The manager announced,

“Married employees with two or fewer children will receive a 10% wage increase. Please submit your family registry to confirm eligibility.”

Due to sensitivities surrounding religious beliefs, direct regulation of family size was avoided. Instead, financial incentives were offered to encourage smaller families.

This approach contrasted sharply with systems that provide larger family allowances and income deductions for families with more children.

A 10% raise was a considerable advantage.

Fathers with larger families were visibly disappointed.

“Furthermore,” the manager continued, “a 3% wage increase will be awarded for each Taekwondo belt promotion achieved through our internal evaluations. New Taekwondo students will receive a free uniform upon earning their white belt. All costs associated with the five promotion stages are covered by the company.”

A Taekwondo master from Korea then demonstrated the poomsae [a series of defensive and offensive movements].

The audience applauded, captivated by the precise movements and powerful shouts, a spectacle many were witnessing for the first time.

Clap! Clap! Clap!

Eyes widened, and gasps of astonishment filled the air as the master broke stacks of bricks and wooden boards mid-air.

Wow!

“Is that even possible?”

The demonstration of breaking objects seemingly stronger than the human body challenged their perceptions.

“Participation in the Saemaul Undong (New Village Movement) [a South Korean rural development program focused on modernization and community development] will also earn you an additional 5% on your wage. Membership and activity fees are entirely free.”

Confusion rippled through the crowd as the lifestyle reform movement was explained.

Their values were deeply rooted in Islamic scriptures dating back thousands of years.

The introduction of new lifestyle norms aligned with the modern era piqued their curiosity.

With the promise of increased income through money, food, clothing, Saemaul education, and the opportunity to learn the mysterious martial art of Taekwondo, a long line of applicants quickly formed.

Since they were already dedicating their day to this, they were determined to maximize their earnings by participating in as many initiatives as possible.

*

A week later.

On payday, the manager addressed the workers about the Angel Fund.

“By investing 10% to 40% of your salary in this fund, you’ll receive a guaranteed minimum interest rate of 2% per month. The fund company ensures the safety of your principal, so there’s no risk of losing your initial investment.”

These were individuals with little to no experience in saving, let alone investing.

The concept of earning interest on their money seemed foreign and almost too good to be true, leading to widespread skepticism.

Initially, only 2% of the workers invested the minimum 10% of their salary in the fund.

*

Two months later.

A worker checking his fund account was stunned.

“What is this? This can’t be right. Has my money really increased this much?”

The bank employee confirmed,

“You’ve been earning 5-7% interest each month. That’s 12% in just two months, which, when calculated annually, results in a remarkable 72% return. It’s nearly double your investment.”

The investment ratio of worker wages and Angel Fund loans was 50:50, and all profits were paid to the workers, resulting in a 100% return.

“The interest is that high?”

“Yes, it is. I wish I could join that fund right now.”

“Why don’t you?”

“I already inquired, but it’s exclusively available to wage workers on the ADB project. For the first time, I envy construction site laborers.”

If even a bank employee was envious, it was undoubtedly a lucrative opportunity.

The news spread like wildfire.

“Is it true that the fund yielded a 12% return in just two months?”

“It’s absolutely true. Look at my account.”

The workers’ eyes widened as they examined each other’s accounts.

“It almost doubles in a year!”

The workers flocked to the bank, eager to deposit any spare money they had into the fund.

Existing subscribers increased their fund subscription amounts.

Having fewer children, practicing Taekwondo, participating in the Saemaul Undong, and subscribing to the Angel Fund effectively doubled their wages.

Consequently, workers enthusiastically encouraged each other to join the Angel Fund, and the subscription rate soared to over 70%.

Those who wanted to subscribe but couldn’t were in truly desperate financial circumstances.

The construction company identified these individuals and provided them with additional living allowances.

*

Six months later.

The construction site had undergone a dramatic transformation.

“Hana!” [One! in Korean]

“Taekwon!” [Taekwondo!]

Instead of traditional morning exercises, workers practiced Taekwondo.

The number of blue belts, red belts, and black belts steadily increased, adding an additional 15% to their wages.

*

One year later.

Two individuals who passed a special promotion test and became the first in Bangladesh to earn a 1st dan [a level of black belt] were called onto the stage.

The construction manager and workers gathered to present them with commendation certificates.

“This certificate is awarded to this individual for becoming a role model by achieving the Taekwondo 1st dan with unwavering determination.”

Clap! Clap! Clap!

“As a prize, we present one don of gold.” [A unit of weight, roughly equivalent to 3.75 grams]

Wow!

It was equivalent to a month’s wages.

In addition to Taekwondo, exemplary individuals in Saemaul activities were also selected each month and rewarded in the same way.

Angel Fund participants not only earned higher wages and enjoyed a better standard of living but also gained respect within their villages.

It was only natural that villagers cheered as people who used to spend their free time idly now practiced Taekwondo, improved their homes, installed sewage systems and bridges, and participated in Saemaul activities to repair their neighbors’ houses.

The workers proudly displayed green Saemaul flags on the roofs of their homes.

Eventually, Saemaul membership was extended beyond Angel Fund subscribers to the general public, and Saemaul branches began to proliferate.

Saemaul Undong activities were sponsored by the Angel Fund, which was in turn supported by the Tiger Fund.

The demand for Taekwondo lessons also skyrocketed.

*

Bangladesh Independence Day.

With the Prime Minister, the Cabinet, and the nation watching, and broadcast live across the country, the Bangladesh Taekwondo demonstration team, proudly waving Saemaul flags, entered the stadium.

The Bangladeshi workers and demonstration team, clad in pristine white uniforms, formed a striking checkerboard pattern.

“Taegeuk 7 Jang, begin!” [A specific Taekwondo form]

At the master’s command, approximately 500 members of the demonstration team executed the movements in perfect synchronization.

“Taekwon!”

Thunderous applause erupted.

During the breaking demonstration, the audience rose to their feet, their eyes wide with amazement.

Wow!

“Taekwondo is the best!”

As the Taekwondo demonstration was broadcast nationwide, interest in Taekwondo and the Saemaul Undong exploded across Bangladesh.

The broadcast featured a segment on the ADB construction site, highlighting the Saemaul Undong, Taekwondo, and Angel Fund in detail.

“My salary has doubled thanks to the Angel Fund. I couldn’t be happier.”

“I strengthen my mind and body through Taekwondo, and I’ve earned the respect of my community through my involvement in the Saemaul Undong. I used to think respect was reserved for the powerful, but now they respect laborers like me. My life has been completely transformed.”

The Prime Minister, watching the broadcast, turned to his economic secretary and said,

“It seems this decision was truly beneficial. I was concerned about potential cultural clashes, but it has adapted remarkably well. The results are outstanding, a resounding success!”

“All thanks to Your Excellency the Prime Minister’s bold vision.”

“Hmm, it wasn’t an easy decision.”

“How about expanding the Saemaul Undong across all government sectors and extending Angel Fund subscriptions to all workers?”

“That’s an excellent idea. If we implement it nationwide, could we potentially double the national income?”

“Theoretically, yes, but we need to consult with the ADB Secretary-General to determine the feasibility of securing additional funding.”

“Okay. Pursue it aggressively.”

The Bangladeshi government designated the Saemaul Undong as a national initiative.

A large delegation was formed to participate in leadership training courses in Korea’s Saemaul academies and to study Taekwondo at the Kukkiwon [World Taekwondo Headquarters].

The Saemaul Undong and Taekwondo became inextricably linked to Bangladeshi culture.

* * *

The President, accompanied by his bodyguards and the chief of the KCIA’s [Korean Central Intelligence Agency] 1st Bureau, was hiking Bukhansan Mountain in plain clothes.

It was a quiet weekday, avoiding the weekend crowds, allowing him to fully appreciate the mountain’s tranquility.

Mount Bukak was a rugged, rocky mountain, and he found himself breathless as he ascended.

Finally, he reached the ridge.

“Huff, huff, it’s been a while since I’ve climbed a mountain. My legs are cramping.”

The Chief of the Presidential Security Service offered,

“Please take your time and enjoy the scenery. Here’s some water.”

“Thank you.”

He gulped down the water from his canteen and wiped the sweat from his brow.

Looking down, the mountain was ablaze with blooming azaleas, resembling vibrant pink patches.

“Hooah~ This is spring! One must venture out to embrace spring. The season favors those who seek it. Let’s head down and enjoy some pajeon [Korean pancake] and makgeolli [Korean rice wine] for lunch. My treat.”

“Thank you, Your Excellency!”

They descended along the Ui-dong Valley.

The clear, gently flowing water of the valley soothed his spirit.

Descending the mountain proved more challenging than climbing it.

But what goes up must come down.

The President gleaned many insights during his mountain hike.

However, an unexpected and unpleasant encounter awaited him.

“What’s that? Is it a temple?”

A magnificent hanok [traditional Korean house], resembling a palace, stood nestled in the valley.

The KCIA Chief replied,

“That’s Seonungak, Your Excellency.”

“Seonungak! No wonder it looks familiar.”

Seonungak was one of Seoul’s three most renowned yujeong [traditional Korean restaurants with private rooms and hostesses] during the 1960s and 70s, alongside Samcheonggak and Daewongak.

In particular, the President had frequently hosted banquets at Seonungak, which served as a venue for clandestine political negotiations and a state guest reception establishment favored by key government figures and visiting foreign dignitaries.

At the time, as a yujeong managed by the state, the KCIA Director regularly visited to oversee the hostesses for security purposes.

They would solicit recommendations for the most beautiful women from across the country, akin to a Miss Korea competition, and select and hire them through rigorous screening processes evaluating beauty, eloquence, foreign language skills, and cultural knowledge.

Since they catered exclusively to high-ranking officials, the hostesses were notoriously arrogant.

The Chief explained,

“It’s been a while since the KCIA managed it, as Your Excellency no longer frequents the establishment.”

Since his regression, he had completely abstained from visiting yujeong.

He had effectively dismantled yujeong secret politics.

“Well, I sometimes miss it.”

“Shall I make a reservation?”

“No! I must resist the temptation.”

“Still, some officials and chaebols [large South Korean conglomerates] still frequent it.”

“When the flowers are in full bloom, the bees will inevitably swarm.”

As they were about to pass Seonungak, three stunning women emerged from a luxury sedan.

Judging by their high-end attire, they were undoubtedly hostesses working at Seonungak.

Among them, a woman with fair skin and exceptional beauty caught his attention.

“That woman is remarkably beautiful. Who is she…?”

“That woman is Jung Yun-suk, the face of Seonungak. Men are eager to have a drink with her.”

The President was stunned.

Wasn’t she the central figure in the biggest sex scandal of the Third Republic?

During Chairman Wang’s time, he had also frequented this place.

The President muttered,

“That woman is still alive…”

She was supposed to have been murdered in a mysterious shooting two years ago.

During Chairman Wang’s administration, Jung Yun-suk was found dead in a luxury sedan near the Han River, the victim of gunshot wounds.

However, a notebook and business cards containing the profiles of political and business tycoons who frequented the establishment were discovered among her belongings.

It was the infamous ‘Jung Yun-suk List’.

It contained the names and contact information of dozens of powerful figures, including 33 key individuals such as the Prime Minister, the KCIA Director, the Chief of the Presidential Security Service, ministers, vice-ministerial officials, generals of the armed forces, chairmen of the top five chaebol groups, and members of the National Assembly.

Even the President’s name was on the list.

The police, upon discovering this, were alarmed and swiftly moved to suppress the case.

A week after the incident, the prosecution announced the results of the investigation.

The perpetrator was her brother, who had been in the car with her on the day of the incident.

While acting as his younger sister’s driver, he had confronted her about her promiscuous behavior, but when Jung Yun-suk refused to listen and hurled insults at him, he accidentally killed her in the name of family honor and attempted to stage it as a robbery.

However, no one believed this explanation.