The Chaebol Returns To The Presidency 1967 [EN]: Chapter 9

Reverting to President from a Conglomerate Chairman 1967- Episode 9 (9/225)

9. Speech at the National Cemetery

“Until now, our number one export country was Japan. But since the dispatch of troops to Vietnam in 1965, exports to the United States have surpassed that. We must maintain this trend.”

The contribution of the Vietnam War boom to the entire Korean economy was truly astonishing.

From 1967 to 1970, when the war boom was at its peak, the Vietnam War boom accounted for 2.6% to 3.5% of the total Gross National Product (GNP) and 47% of total exports.

In the case of foreign exchange reserves, foreign currency from Vietnam accounted for more than 40% of the total reserves, and the balance of invisible trade was similar.

The increase in GNP in the late 1960s cannot be explained without the Vietnam War boom.

The modernization of military weapons was also steadily progressing with the latest weapons.

Based on this history, the President was planning a booster shot [a measure to further stimulate the economy].

Chief Secretary Kim took notes on the President’s plan like a student.

“We need to link the heavy and chemical industries, building them upon the military industry, and drive domestic demand through the construction of social overhead capital.”

“Social overhead… what did you say?”

The term social overhead capital was a futuristic term that was unfamiliar even to Chief Secretary Kim, who had studied abroad.

The President, realizing his mistake, glossed over it.

“I mean civil engineering projects like roads and bridges. Facilities that are the foundation of society.”

“Ah, social infrastructure civil engineering!”

Chief Secretary Kim had no idea that the President, who had spent his entire life in the military, would have such professional knowledge.

It was definitely not the face of the former president who always prioritized security.

The President tried to dispel suspicion by making excuses.

“I benchmarked the New Deal policy of the United States. There is no better policy to earn foreign currency, boost domestic demand, and develop social infrastructure.”

“Ah, that’s a really appropriate judgment.”

That was not flattery. Deputy Prime Minister Kim had personally experienced the successful state-led policy in the United States.

He was just surprised by the insight of the President, who was a soldier. The admiration continued.

“So, we are shifting the economic structure from light industry and consumer goods industry to heavy and chemical industries and construction.”

“Understood, Your Excellency!”

“And soon, invite the top executives of companies. We need to explain the national policy plan and seek cooperation.”

“Understood. Shall we prepare at the Yeongbingwan [State Guest House]?”

“No. We will start with a visit to the National Cemetery. Then we will have lunch at the Yeongbingwan.”

“Did you say the National Cemetery?”

It was customary to be with politicians or soldiers at the National Cemetery for events related to national defense.

It was the first time to have an event with businessmen at the National Cemetery.

He didn’t ask any more questions. It was because he believed that the President had a deep meaning.

“Your Excellency, which companies should we invite?”

In this case, it was usually the order of company sales. But the President was different.

The President wrote down the companies to be invited himself.

The Chief of Staff, who confirmed that even unnamed small and medium-sized enterprises and researchers from national research institutes were included, blinked his eyes, not knowing the reason.

The companies and people selected by the President purely reflected future value.

Before the regression, the ranking of Korea’s top 10 conglomerates changed as the Vietnam War went on.

In 1966, the ranking of conglomerates was Samson, Samho, Samyang, Gaepung, Panbon, Lucky, Daehan, Dongyang, Hwashin, and Hankuk Glass.

Of these, only Samson and Lucky survived in the top 10 conglomerates during the Vietnam War.

In 1975, Hyunse, Hanjin, Hyosung, Ssangyong, Daewoo, Dongyang Brewery, Dongah Construction (formerly Chungnam Civil Engineering), and Shindongah newly appeared in the top 10 conglomerates, and these companies grew through services, construction, and trade during the Vietnam War.

As draft beer spread along with the *tong guitar* [acoustic guitar] culture due to the Vietnam War, Dongyang Brewery (now Doosan), which produced OB beer, was included in the top 10 conglomerates.

The top 10 conglomerates formed at this time further expanded their power after the 1980s, and the top 10 conglomerate rankings remained the same with the addition of 7 companies, Sunkyung, Korea Explosives, and Lotte.

After the 1997 foreign exchange crisis, Daewoo and Ssangyong were dismantled, and the top 10 conglomerate rankings maintained their framework until the 2000s.

The President included small companies and *jongmokgun* [group of stocks] that would grow in the future.

The President’s main concern at the meeting with businessmen was this.

Who is the head of Hyunse Corporation?

Since he had regressed and resided in the President’s body, he couldn’t help but wonder who existed in the body of Chairman Chung Joo-hyun, who currently exists.

Moreover, there was a theory that if doppelgangers met, they would disappear, so worry rushed in like dark clouds.

However, it was an unavoidable position because the economic development of Korea could not be considered without the help of Hyunse.

* * *

Dongjak-dong National Cemetery (Seoul National Cemetery).

White tombstones were lined up like the remains of soldiers who had dedicated their youth to the country.

A dragonfly with a blue sky on its back was hovering in the air.

*Maem maem maemmae~* [onomatopoeia for cicada sound]

A late *maemi* [cicada] was burning the last flame of its life.

About 30 top executives from the top 20 companies and companies invited by the President were lined up in front of the Tower of the Unknown Soldiers.

Among them were Lee Byung-seol, who would become the king of semiconductors, Kim Hu-jung, the protagonist of the salaryman miracle myth, and Park Dae-joon, the president of Korea Tungsten, who would become the steel king of Korea.

*Tutu Tutu-* [sound of helicopter]

The President’s helicopter landed at the National Cemetery landing site.

The President thought as he headed to the Memorial Tower under the guidance of the *jjak kallin* [widely spread] bodyguards.

Every time the President moved, hundreds of bodyguards moved, so he couldn’t mingle with ordinary people.

So, he only saw the world through newspapers and TV, and only heard the news from his aides, so he couldn’t fully feel the world.

The Blue House was no different from a prison.

Hmm, when I was the chairman, I roamed the field, sweated together, and *budichimyeo* [clinked] *makgeolli jan* [makgeolli glasses] and tasted the flavor of life. If I had been president for a long time, my sense of reality would have deteriorated, and I would have had no choice but to reign as king unintentionally.

As the outlines of the businessmen lined up in the distance became clearer, the President’s heart pounded.

Hoo~ I’m nervous. Why am I so anxious when I’m going to see myself?

As the President appeared very nervous, the attendees, who did not know the reason, became nervous as well.

The President did not look at the businessmen and took his seat in the front row.

Ministers and vice-ministers of economic-related ministries, public officials of the 3rd grade or higher, and presidents all attended, and the number was greater than the invited businessmen.

The President laid flowers as a representative, and a simple ceremony began with a moment of silence.

*Ppamppa bam~* [Fanfare sound]

The host, the head of the Veterans Affairs Office, said.

“Next, His Excellency will have a speech, no, a message to deliver.”

The President ordered the word “speech” to be removed from the manuscript, but the officials who were used to it made mistakes repeatedly because it was awkward.

The President looked slightly at the sky to avoid eye contact with the businessmen and said.

“Yes, I wanted to see the businessmen who are working hard on the industrial front first. You must be wondering. Why the National Cemetery, not the Memorial Day event?”

Everyone had a look of agreement.

The President asked and answered himself.

“The National Cemetery is a place where we enshrine those who sacrificed themselves for the country and thank them for prospering through the sacrifices of patriotic martyrs. If there is a worker who died in the line of duty for your company, how are you chairmen dealing with it?”

The audience flinched. Quick-witted managers guessed what the President was trying to say by bringing up such a preface.

The President said.

“I hope you don’t just give a few words of consolation to the deceased’s family and hush it up, telling them not to let it be known to the outside world, right?”

The eyes of the attendees shook greatly at the President’s dagger-like words.

“Do you perhaps regard your employees as servants and treat them as consumables?”

The executives felt as if they had been hit hard in the abdomen with a fist.

“I hope you don’t pass on management rights to your children, whether they have the ability or not, and parachute in relatives, alumni, and juniors, right?”

As Chairman Wang, who had built a large company with his bare hands, he knew the inside of the company better than anyone else.

At the sacred site of national defense where the spirits of the fallen heroes were sleeping, the attendees were at a loss as to what to do as the President announced economic policies with all the economic officials in attendance.

Some of the attendees thought this way on the one hand.

‘Is he trying to discipline the company like this?’

‘Does the president mean to raise the amount by giving a direct lecture?’

They thought it was a performance to extract donations from the company.

“There is no one more meritorious to the company than the workers who sacrificed their lives and were injured for the company. Please treat them with honor.”

“Yes!”

“The world has changed now. Although it is a low stage, we will introduce the minimum wage system from next year. Furthermore, we will introduce employment insurance and industrial accident insurance by sharing the burden equally between employers and individuals. Please prepare well.”

Without distinction between the assembled businessmen and officials, they were in a state of attention like trainees in a recruit training center, repeating *bokchang* [verbal responses] in unison.

“Yes!”

“It’s not just about burdening companies. The country will implement the Korean version of the New Deal policy, including the Gyeongbu Expressway, national road network, bridge construction, habitual flood zone maintenance, farmland consolidation, *chogajip* [thatched-roof house] improvement, and *seomin* [common people] housing.”

The chilly atmosphere began to heat up with the President’s carrot [incentive].

“We will also foster heavy and chemical industrial complexes by leasing state land at long-term low interest rates. The state is planning and giving opportunities, so companies are swimming with their feet on the ground. Don’t just focus on squandering the money earned by workers’ sweat on *jusaekjapgi* [debauchery], but share it with the workers. Money comes with social responsibility. I’ll give you work. I’m watching and will decide whether to give you work or not.”

The President *piseuk* [smirked] because he was giving a lecture on his lower body with his own *hosaekhan* [womanizer] mouth.

After finishing his long speech, the President raised his head and inadvertently looked at the audience, and his eyes met a man and froze like a *dongtae* [frozen pollack].

Huck! That, that guy!

That’s right. It was Chairman Wang in his *hyeolgi wangseonghan* [vigorous] youth.

He was *jomajoma* [nervous] that he might meet and evaporate, but fortunately, the two were fine. A sigh of relief burst out.

Hoo~

However, the President, who was facing himself, or rather, facing his own appearance, fell into a strange shock.

Hyunse Group President Jung *seulgeumoni* [stealthily] avoided his gaze when he met the President’s gaze.

The President sat down and had all sorts of thoughts.

Who is that guy? Could it be me with the same thoughts? If not, who is it?

After the memorial service, which was hotter than *boknal* [the hottest days of the year], the businessmen took the buses provided by the Blue House to the Blue House for lunch.

* * *

Presidential Secretariat.

The President’s eyes widened at the sight of the *ssain* [piled up] thick bags.

The Chief of Staff reported the bags *sangnaphan* [bribed] by the businessmen, and the President came directly to check with his own eyes.

The President swallowed *chimeul kkulgeok* [gulped] at the sight of about 30 cash bags.

“Is this all….”

“Yes. It’s cash. There is cash from 1 million won to 3 million won along with business cards.”

If you multiply the currency value of 1967 by 100 times that of the 2000s, it was a huge sum of about 100 million to 300 million won [approximately $85,000 to $255,000 USD in today’s value].

“This is what you call *huwongeum* [sponsorship].”

“Yes, Your Excellency, what shall we do?”

“What do you mean, what shall we do?”

“……”

“Let’s do this.”