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Fri, February 3, 2023 | 03:26
People remember IMF, not his political fights
Posted : 2015-11-22 17:11
Updated : 2015-11-22 19:07
Kim Se-jeong
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People pay their respects to former President Kim Young-sam, who passed away early Sunday, in front of a bust set up at Kim's birth house in Geoje, South Gyeongsang Province, Sunday. / Yonhap
People pay their respects to former President Kim Young-sam, who passed away early Sunday, in front of a bust set up at Kim's birth house in Geoje, South Gyeongsang Province, Sunday. / Yonhap

By Kim Se-jeong


People remember former President Kim Young-sam as an unfortunate leader whose endeavors for democracy were overshadowed by a financial crisis at the end of his term in 1997.

"I almost forgot that he did a lot," said Lee Kyung-soon, 50, a resident of Seoul. "The financial crisis cast a shadow over his other achievements."

In 1997, the Kim administration asked the International Monetary Fund (IMF) for a bailout after the state could not pay its debts. Lee's husband lost almost 50 million won on the stock market, and the couple with two children failed to complete their mortgage payment in Daejeon. "We had to move into a small flat, and there were quarrels for a long time," she said.

Park Sung-soo, an office worker, 40, said he recognizes Kim's contribution to the nation's democracy. "However, he was the one who brought about the financial crisis. I don't think he had the ability to really lead the country."

More critical damage to Kim's political career came from his son, Hyun-chul. The junior Kim was arrested in 1997 on charges of accepting bribes and tax evasion and sentenced to two years in prison and fined more than 1 billion won in 1999, but was granted amnesty later that year.

Kim Young-sam passes away
Kim Young-sam passes away
2015-11-22 00:50  |  People & Events

"Kim was a leader who was damaged a lot by his scandalous son," said Kim Eui-seong, 65, a resident in Yongin, Gyeonggi Province. "He should have better controlled his son."

Among the former President's achievements, people remembered his fight for democracy the most.

"He was the leader who felt what people wanted and tried to deliver it," said Oh Ig-chul in his mid-50s who runs a local food company.

In the late 1970s, Kim fought against oppression by the dictatorial government of Park Chung-hee, the father of incumbent President Park Geun-hye.

In 1993, he was sworn in as president, the first leader in decades with a non-military background, opening a new chapter in the nation's democratic movement.

During his term, the former President banned people from making financial transactions under fake names in an attempt to root out corruption. He also investigated high-ranking military figures and dissolved Hanahoe, a military group previously involved in many corruption cases, and had two former presidents -- Chun Doo-hwan and Roh Tae-woo -- jailed for treason and corruption.

"Overall, I do not recognize him as a good leader, but I still give him credit for disbanding Hanahoe and making Korea's financial system transparent," Cho Jin-hee, 63, a housewife in Seoul, said.

Kim Young-hack, 63, a resident in Seongju, North Gyeongsang Province, also praised the former President's drive to root out corruption in the Korea's financial system. "His decision to make the financial system transparent must have been a hard one for a politician who relies on political donations. He thought little about himself when he pushed for it, and I believe he deserves recognition for that."



Emailskim@koreatimes.co.kr Article ListMore articles by this reporter
 
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