The Chaebol Returns To The Presidency 1967 [EN]: Chapter 30

30. He Should Have Left When People Were Applauding

The President embarked on a rigorous schedule, visiting and inspecting the Berlin Wall, the Technical University of Berlin, the Siemens factory, the AEG electric factory, and the German Development Cooperation.

The President directly observed the reality of the German steel industry.

Siemens Director Bremeyer said,

“Your Excellency, modernization is impossible without steel.”

“I see.”

The President meticulously asked questions and took notes, determined to learn as much as possible to replicate it in Korea, rather than just conducting a routine inspection.

“How much does it cost to build that steel mill? What is that building used for?”

After the meeting, Chancellor Erhard decided to provide the Korean government with a financial loan of 250 million marks (approximately $47.7 million) without requiring collateral.

Both sides agreed on a three-year plan for Korean-German economic cooperation from 1965 to 1967, and West Germany increased the import quota for Korean cotton fabrics from 1 million marks to 2 million marks.

After President Park’s visit, West Germany made an internal decision to provide loans to Korea without requiring guarantees from third countries.

However, as it was impossible to disregard international customs, they provided 300 million marks, more than the amount initially requested by Korea, on the condition that Korean miners and nurses deposit their monthly salaries in a bank for one month.

Afterward, Korea and West Germany became true allies not only in financial matters but also politically.

* * *

Whirr~

The film finished, and the lights came on.

Click!

Everyone returned to reality.

The cheerful expressions of the business leaders from the beginning were gone, replaced by a sense of determination.

The President returned to the podium, approached the microphone, and said,

“The reason I suddenly showed you this film is because of this.”

“…….”

“The presidential term is four years. Even if re-elected, it’s only eight years. National economic development requires consistent *chu-jin* [drive/push] for decades, which is an impossible timeframe.”

The tycoons were suspicious.

‘Is he going to extend his presidential term?’

‘Is he declaring a constitutional amendment now?’

The President’s next words pleasantly surprised them.

“The term of a business leader is unlimited. Even if I finish my term, I want you to lead economic development. No matter who becomes president, I want you to *chu-jin* [drive/push] with a sense of public duty, ready to face criticism. You are my successors!”

The tycoons finally nodded.

Clap! Clap! Clap!

“Now, let’s begin the business briefing for which I’ve gathered you here today.”

After distributing the briefing booklets, the President explained the purpose.

“The total amount of money sent home by our miners and nurses working in West Germany is $50 million annually. This dollar is being invested in highways and heavy chemical industries. The miners and nurses who shed blood and sweat in West Germany are, in the truest sense, great ‘national contributors’ who have decisively contributed to the modernization of our country, wouldn’t you agree?”

This amount was an enormous sum, accounting for 2% of Korea’s national income at the time.

Clap! Clap! Clap!

The business leaders applauded in unison.

Only one person bowed his head and did not applaud.

It was CEO Hyunse Jeong.

His eyes were swollen from wiping away tears throughout the film.

He couldn’t applaud because he was wiping away tears.

The President officially began the business briefing.

“The rural areas are undertaking housing improvement projects through the New Village Movement [Saemaul Undong, a rural development program], and the city plans to build affordable housing.”

“…….”

“We will *seobi* [improve/develop] the Han River banks, which flood during the rainy season, and build 100,000 affordable apartments there. But what money do ordinary people have to buy apartments?”

“…….”

“Therefore, the state will lease the land, and companies will invest to build rental apartments. Monthly rental apartments for 10 years. After 10 years, the tenants residing there will have priority to purchase the apartments.”

The audience buzzed.

The President explained.

“The first priority for these rental apartments will be given to the miners and nurses returning from West Germany and the soldiers returning from Vietnam. Let’s prove that we have not forgotten them in West Germany and Vietnam! Isn’t it the state’s duty to give preferential treatment to national contributors?”

Clap! Clap! Clap!

“Thank you. Currently, the Cheonggyecheon Stream is lined with matchbox-like shacks where rain leaks and snow comes in. They are the workers who work for your companies, subcontracting laborers.”

“…….”

“Invest the profits from the corporate freeze and the real-name financial system [a system requiring financial transactions to be conducted under real names] here. Monthly rent, 10-year installment housing that generates profit through sales after 10 years. Isn’t this worker welfare?”

Clap! Clap! Clap!

In this way, investment funds for the construction of 100,000 units were successfully secured through the cooperation of large corporations.

The President’s business briefing sales pitch was a refreshing shock that changed the image of the authoritarian president for the *gieopdeul* [corporations/businesses].

After the briefing, the President shook hands with everyone in attendance.

It was CEO Jeong’s turn.

CEO Jeong tightly grasped the President’s hand with both hands.

“Your Excellency, thank you for recognizing my efforts.”

“It was an excellent textbook that all companies should know.”

“I will visit you soon.”

“Yes, I’ll be waiting.”

* * *

The Presidential Residence.

The President and CEO Jeong were talking at a table with tea sets.

Outside the room, four armed guards were on standby, and the Chief of the Security Service stood guard on one side of the reception room, watching CEO Jeong’s every move with vigilant eyes.

Because of his past record of throwing an ashtray and causing a disturbance, they couldn’t let their guard down.

The first question CEO Jeong asked the President was this:

“Where is Kim Je-gu now?”

CEO Jeong was looking for the man who shot him first.

“I received sad news from Vietnam recently. He was killed in action. Shot by his subordinate.”

“Hmm, he received his due.”

The President said,

“Kim Young-wook is the Minister of Construction.”

“I know.”

CEO Jeong put a cigarette in his mouth.

The President lit it with a lighter.

Whoosh~

CEO Jeong exhaled cigarette smoke and let out a short groan.

“That bastard….”

The President wanted to confirm what that meant.

“It’s true that Kim Young-wook betrayed the President, but he paid a harsh price in France, with his body being shattered. Surely you’re not planning revenge on Kim Young-wook as well?”

“He’s alive and well right in front of me.”

The President was worried.

‘This is troubling. As the Minister of Construction, he’s bound to clash with Hyunse Construction. Surely he won’t kill someone he killed in his past life again.’

CEO Jeong asked the President,

“Now that you’ve become Park Jeong-woong, how do you plan to lead the nation?”

For a company president to worry about national affairs, it was a question that suited him.

CEO Jeong stubbed out the cigarette, which was more than half-finished, in the ashtray and pulled his body closer on the sofa.

The President felt like he was being subjected to a hearing.

“A leader who must govern the majority, no matter how great, is bound to have light and shadow. I plan to take the merits of President Park and add to them, and cut out the faults.”

“Merits and faults… what are my merits, and what are my faults?”

‘Was he really asking because he didn’t know? Was he testing whether I was an enemy or an ally?’

“Hmm, hmm, your economic achievements, pioneered with foresight despite the opposition of the majority, have become the cornerstone of the Republic of Korea’s prosperity. I greatly respect that point. No country has become an economic powerhouse in such a short period. You firmly laid that cornerstone. That is the merit.”

CEO Jeong nodded with a satisfied expression.

“Then what are the faults?”

“He should have left when people were applauding. It may be a result, but he shouldn’t have gone as far as the *samseon gaeheon* [third-term constitutional amendment], or even the Yushin Constitution [a series of emergency measures that granted dictatorial powers to the president].”

“…….”

CEO Jeong put a cigarette in his mouth. Smoke scattered in the air.

CEO Jeong recalled the time.

“With the withdrawal of US troops, the fall of Vietnam was visible, and with the Nixon Doctrine, the withdrawal of US troops from Korea was imminent. But social, religious, student, and labor leaders and politicians were not concerned about the security of the country and were only demanding human rights and rights, completely intoxicated with their own freedom.”

“…….”

“As a result of economic growth, they were barely able to make a living, and they were fighting like dogs to take care of their own share. But we were at war, facing the enemy at the *hyujeonseon* [armistice line/DMZ]. That’s why we did the Yushin.”

“CEO Jeong, I admit it too. If it were me, I would have done the same.”

“…….”

“In fact, rice bowls come before ideology. No one begs after starving for three days. What democracy, freedom, or human rights are there when you’re starving?”

“Hmm….”

CEO Jeong nodded.

“But when you start to get full, you have to consider democracy, freedom, and human rights. Politics is a show. There is no absolute democracy or absolute freedom. It is only an agreement of the people living in that era and place. In other words, you have to imitate procedural democracy. You have to change your *tongchi* [governance/rule] style to match the demands of the times.”

“Hmm, change…. It’s a result, but I admit it to some extent. I should have been more flexible.”

CEO Jeong fumbled for his cigarette pack.

The cigarettes were empty.

The President handed him a cigarette, and he lit it himself.

“So that’s why you took me to the Namyeong-dong Anti-Communist Investigation Bureau. To experience what individual human rights are.”

“That’s right. You needed to wake up.”

CEO Jeong was silent for a while, staring into the air.

The President said,

“The President and the *chaebol* [conglomerate] leader are both human beings. They have life paths.”

“…….”

“I enjoyed the highest position in the business world. But I should have left when people were applauding, but I missed that time.”

“When people were applauding….”

CEO Jeong said heavily.

“In fact, I was well aware of the people’s resistance and the Yushin dictatorship. I had a separate time to step down that I had decided on. It was just that things got twisted and it was being pushed back.”

“Step down?”

If it was stepping down, it meant resigning from the presidency in the middle of the term, not the normal term.

There must have been an untold story.

CEO Jeong closed his eyes tightly, then opened them and said,

“Your Excellency, can we have a drink?”

“Hahaha, good. But I can’t go to Gungjeong-dong [site of President Park’s assassination]. I handed it over to the Deputy Prime Minister’s *byeoljang* [villa/retreat].”

“I don’t want to go back to that tragic scene either.”

“Then let’s have a drink here.”

“Yes, good.”

“Chief of the Security Service!”

“Yes, Your Excellency!”

He said to Chief Jang, who approached,

“Chief, relax a little now. Your legs will cramp.”

The Chief of the Security Service awkwardly took a *shwieo 자세* [at-ease stance].

The President said to CEO Jeong,

“This friend is trembling with anxiety that CEO Jeong might do something unexpected, hahaha. The magazine in his inside pocket must be heavy with bullets.”

CEO Jeong got up and said to the Chief of the Security Service,

“I’m sorry about last time. I didn’t know my place and I wasn’t in my right mind. But the joint is still bruised blue.”

“Ah, I’m sorry.”

“It’s all my fault. To throw an ashtray at the President. Will you accept my apology?”

“Of course. It seems that apologizing to His Excellency is more important than apologizing to me.”

The President said,

“This man apologized a long time ago. He’s going to repay the people by greatly raising the industry, not just with words.”

The face of the Chief of the Security Service finally brightened.

The President said,

“We’re going to have a drink, so please prepare something in the dining room.”

“Yes, I understand, Your Excellency!”

The two men loosened their belts and began to talk frankly.