Episode 68: Presidential Commendation
Silence flowed among the dazed employees. Manager Gu, whose eyes had widened, was the first to grasp the situation.
“What? So, our president is going to receive a presidential commendation?”
“Yes, that’s correct.”
“A presidential commendation, or a medal? Does that come with a prize as well?”
The employees murmured among themselves. Those who were about to form a scrum, fearing that the president might be taken away somewhere, were now completely dumbfounded.
Captain Park, who had taken off his sunglasses, asked for their understanding.
“That’s correct. We tried to contact you several times, but due to a recent change in address, we couldn’t reach you in time. We apologize for the delayed notification. We also made several phone calls, but since you were on a business trip abroad, it was difficult to get in touch. Hence, we had to visit unannounced.”
As it was customary for the recipient of a presidential commendation to attend the award ceremony, the significance of the event would be diminished if Lee Chang-jin did not participate. Upon hearing the details, Gu Chang-dong finally showed signs of relief.
“Oh my, you should have explained earlier. I thought something serious had happened. Well then, hurry up and go, President.”
“Yes, I can’t miss a presidential commendation.”
With the misunderstanding resolved, Lee Chang-jin boarded the official car, escorted by the employees’ farewells.
The car, running without any hindrance, soon entered the premises of Jangchung-dong.
Passing through the entrance, a landscape lined with ornamental trees appeared. The State Guest House, used to host foreign dignitaries or invited guests for luncheons, is a building established on the site of Namsoyeong from the Joseon Dynasty. As the car stopped, a security officer, who had been waiting in front of the State Guest House with prominent eaves, politely opened the door.
“This way, please.”
The first floor was used for receptions of foreign dignitaries, and the second floor hosted large-scale events or meetings. It was designed entirely in traditional Korean style, with traditional lattice windows, etc.
On the four walls, there were folding screens depicting the four seasons—spring, summer, autumn, and winter. In the center, a detailed painting of Hallasan Mountain was displayed like a photograph.
[Congratulations! National Saemaul Leaders’ Luncheon Meeting]
Lee Chang-jin, having lightly tidied his attire, entered the grand hall. People were waiting inside the enormous hall, reminiscent of a wedding venue, with attendees from all over the country.
As he was being guided inside, a familiar voice reached Lee Chang-jin.
“Oh, you finally arrived! How have you been, President Lee?”
“Ah, Governor, it’s been a while.”
“How have you been, President Lee? You seem to be getting more handsome. I hear your business is doing well these days? I often hear about it in Seoul.”
“Haha, I’m just getting by. I hear you’ve been praised for your work.”
“Nonsense, where did you hear such rumors? How could such stories spread that far?”
“It’s true. My father also praises you every time, saying you’re the only one who truly cares about the region.”
“Is that so? Hmm. Your father seems to know a thing or two.”
Though he spoke modestly, the governor couldn’t hide his pleased expression.
Then, a man accompanying them chimed in.
“Hey, President Lee, have you completely forgotten about me?”
“Ah, could it be, Village Head? Did you come together?”
The village head, wearing a suit a size too small for his frame, looked awkward, as if he were wearing a suit for the first time.
Scratching his head, the village head mumbled.
“Well, somehow, I got invited as a set. Thanks to the big deeds of President Lee, I’m also going to receive an undeserved award. I didn’t do anything, though.”
The village head’s humor made Lee Chang-jin smile faintly.
“Well, what exactly is going on? I wasn’t given any explanation on the way here. Could you briefly explain what’s happening?”
The village head responded.
“Oh, well, it seems the President was deeply impressed upon seeing the road laid in our village during his local inspection. As a result, our village was selected as a model case for the Saemaul Movement. Isn’t it amazing? The President visiting a rural village. They asked all sorts of questions about who laid the road.”
“Ah, so that’s why…”
“Thanks to you, I’ve gained some face in the village. Actually, it was President Lee who paid for it, and the villagers did all the work. I’m not sure if I deserve this credit.”
“Haha, how could it be solely my achievement? It was only possible thanks to your active cooperation, Village Head.”
“Haha, thank you for saying that. Oh, is it already this late? The event will start soon, so let’s take our seats. The seats are assigned.”
Since he was the recipient of the presidential commendation, Lee Chang-jin’s seat was prepared at the very front of the hall.
Shortly after Lee Chang-jin sat down, Lim Jin-woong, the president of the Saemaul Movement Central Association, entered.
After confirming the attendees, President Lim stood up and gave the opening address.
His voice was deep and weighty, like a prominent voice actor.
“To mark the 3rd anniversary of the Saemaul Movement, the President has arranged this precious event to encourage those who have contributed to the movement. Please stand up.”
Soon, a familiar song began to play.
- The dawn bell is ringing, a new morning has come. Let’s all get up and build a new village. Let’s create a prosperous village with our strength.
Those who stood up sang the song passionately, as if they had made a promise. It was a familiar scene in the 1970s. Right after the Saemaul song ended, the national anthem began to play.
The village head was visibly excited as he sang the song.
When it was time to receive the award, he was so nervous that he stumbled, becoming a source of amusement.
After some minor incidents, it was Lee Chang-jin’s turn.
“In recognition of your contribution to the Saemaul Movement, we present you with this commendation.”
Lee Chang-jin received the commendation and took a photo at the photo line. Once the luncheon procedures were over, a buffet-style meal was prepared. It was said that the chefs from the Blue House had specially prepared the food on VIP orders.
After the meal, a joint performance was held in the hall. Famous opera singers and well-known trot singers were invited to perform together.
The attendees were busy watching the musicians’ exquisite collaborative performance with their mouths agape.
“Wow, to see such a performance in person. I’ve only seen it on TV.”
“Amazing, I’m enjoying this thanks to President Lee.”
Amidst the elated attendees, Lee Chang-jin was also savoring the rare leisure time.
While deeply engrossed in the performance, Captain Park, whom he had seen earlier, approached and whispered to Lee Chang-jin.
“Mr. President, Chief Won Jong-pyo wishes to have a private meeting with you.”
“What? Me?”
Surprised, Lee Chang-jin turned around to see Captain Park signaling him to follow.
Excusing himself under the pretext of going to the restroom, Lee Chang-jin was guided to a hotel room.
The hotel room was set up like an office, and a man who appeared to be in his forties was reviewing some documents. Upon sensing someone’s presence, the man quickly looked up from the documents.
“Hello, I’m Lee Chang-jin from Daese Industries.”
“Oh, are you Lee Chang-jin? Please, have a seat.”
Chief Won gestured to welcome him. Despite his friendly smile, anyone who knew his identity would have to be humble in his presence.
Won Jong-pyo, a technocrat who shaped Korea’s 60s and 70s, was known as the economic brain who dominated the 70s.
He was a man with a strong conviction in exports, believing that economic growth was only possible through exports. Together with another economic brain, Minister Min Je-guk, he was the architect behind the heavy and chemical industry policy. He was the one who proposed the pyramid-like CEOI strategy, which gradually deepened the industrial structure from simple labor-intensive products.
From establishing major industrial complexes like Yeosu, Changwon, and Gumi, to national key industries like Anyang Steel, and even the establishment of the Daedeok Research Complex and Kumho Technical High School, his influence on industrial development policies was unparalleled.
Lee Chang-jin looked at him with newfound respect. Meeting such a historic figure stirred emotions within him.
Trying to appear calm, his inner feelings were as turbulent as a raging storm.
Chief Won’s face, in his prime, exuded both comfort and confidence.
“You must have had a hard time getting here. First of all, congratulations on your commendation.”
“Thank you.”
“I’ve heard you’re quite a capable young man. President Yoo from Anyang spoke highly of you. Given your ventures into various businesses, I assumed you were older, but you’re quite young. How old are you this year?”
“Twenty-nine.”
“You’re still in your prime. Impressive for someone so young. Are you married?”
“Not yet.”
“Really? What are the matchmakers doing, not recognizing such a treasure?”
As Chief Won laughed heartily, Lee Chang-jin humbly replied.
“You flatter me. Thank you for the high praise.”
“No, I’m sincere. It’s no small feat to stay true to your roots and dedicate yourself to the development of your hometown. You deserve the commendation.”
“Your words make me feel embarrassed.”
“It’s the truth. One cannot succeed solely by their efforts. There’s always a social contribution. Unfortunately, not many businesspeople realize this. It’s a blessing for the nation to have a young man with a proper consciousness like you.”
Lee Chang-jin quietly listened to Chief Won.
He didn’t agree with everything he said, but he understood his genuine patriotism.
Chief Won continued.
“I called you here because I wanted to hear the voices from the field. I need advice from a businessperson like you who’s at the forefront of the industry.”
“What insight could a novice like me possibly provide?”
“Haha, no way. You’re a top graduate from Korea University and a former manager from Mannheim. There aren’t many talents among the young generation like you. Plus, you’re currently a thriving young entrepreneur, so you must have some thoughts on the economy. Please speak candidly.”
Lee Chang-jin bowed his head.
“I don’t know if I’m in a position to offer my opinion to someone like you.”
“Haha. While humility is a virtue, excessive modesty can be a hindrance. The national economy is in dire straits these days. Public officials are out of touch with the field, busy with armchair discussions, and conglomerates are preoccupied with pursuing private interests. It’s frustrating. We’re at a point where we need all the help we can get. So, if you have any good ideas about economic policy, please don’t hesitate to share.”
Just as Chief Won honestly stated, Korea’s economy was in a dire situation. The price of crude oil, which was around $2 per barrel in 1973, had surged to $10 per barrel, severely impacting the newly emerging Korean economy.
As a result, in 1974, Korea’s international balance of payments deficit reached a staggering $1.7139 billion, and the foreign currency borrowed by banks other than the central bank amounted to $800 million.
Unable to cover the current account deficit with a capital account surplus, the government had to resort to borrowing from abroad without reducing foreign exchange reserves. It was like a business with bad credit borrowing from private lenders because it couldn’t get loans from banks.
With the government in a bind, they had to come up with additional measures by any means necessary. The shock was greater because it was a period of transitioning the industrial structure from light industry to heavy and chemical industry.
As a result, the economic growth rate in 1975 fell to 6.5%, and the inflation rate continued at a hyperinflationary level of 24.7%.
If the heavy industry policy were to fail under these circumstances, it would lead to national bankruptcy.
Lee Chang-jin thought to himself. This might be an opportunity to showcase his insight into economic policy. Making a good impression here could provide him with a strong backing in the future.
After organizing his thoughts for a moment, Lee Chang-jin took a deep breath and began to speak.
- To be continued in Episode 69 -
