“A Korean Gandhi.” That’s quite the compliment isn’t it? Today we are at the monument dedicated to Park Tae-joon.
Park Tae-joon was born in 1927. He is remembered as a symbol of South Korea’s economic growth. People saw him as embodying the tireless entrepreneurial spirit.
Park Chung-hee, the fifth president of Korea, appointed Park Tae-joon as the head of the Korean steel industry. In 1963, Park spearheaded the construction of Pohang Iron & Steel Co. POSCO. This company became a major player in the global steel market.
Park and President Park Chung-hee had a close relationship. They had served together in the army. They also participated in a military coup. This coup brought Park Chung-hee to power in 1961.
POSCO grew to become a steel giant. It boasted an annual production capacity of 37 million tons. This made it the fourth-largest steel company in the world according to World Steel.
When Park Tae-joon passed away mourners gathered at Yonsei University’s Severance Hospital. Over 2,500 people paid their respects at the hospital. In addition, over 87,000 people visited temporary altars across the country.
The funeral took place at POSCO headquarters in Seoul. Over 600 people attended including political figures and foreign envoys. Park was buried at the National Cemetery in Seoul.
Cho Jeong-rae a novelist honored Park’s life. He called him “Park Mahatma”. This was a reference to Mahatma Gandhi’s principle of non-possession. Cho highlighted that despite building a hugely successful steel company Park did not even own a house.
Park Jyun-kyu a former speaker of the National Assembly also paid tribute. He respected Park’s influence on the country.
Lee Myung-bak the president of Korea expressed his sadness. He acknowledged Park’s immense contribution to Korea’s industrialization.
Park Tae-joon was awarded a medal of honor. It recognized his contribution to the national economy. The Park Tae-Joon Memorial Museum was built in his hometown Busan.
The Park Tae-joon monument here marks the achievements of a man who dedicated his life to Korea’s economic rise. He left behind a legacy of innovation and leadership. It is a legacy that continues to inspire generations.