In memory of Park Tae-joon, founder and former chairman of POSCO


There are no coincidences when something is desperately needed. Some supernatural force decides what must be done and designs the path for achieving it.

This higher power knows who is prepared to sacrifice his life for the greater good and what is needed for him to accomplish his goal.

Nothing is free, nor does it come easy.

The encounter between late President Park Chung-hee and late POSCO chairman Park Tae-joon 65 years ago was one of those rare designs of the supernatural.

Fate read the sincere hearts of the two patriotic men. Surely the two men’s encounter at the Korean Military Academy in the early days of the Republic of Korea was arranged by the supernatural as an invaluable gift to Korean people.

The two shared the same spirit and trusted each other deeply.

It seems predestined that they embarked on what became their lifetime mission of salvaging the country from absolute poverty.

They shared the belief that industrialization was one of the most urgent tasks for the nation if it was to be freed from poverty, improve the daily lives of the people and develop the national economy.

Steel is to industry what rice is to the human diet. Having a strong and healthy steel industry is a prerequisite to industrialization and boosting the national economy.

Korea desperately needed to develop its steel industry. 

President Park knew what qualifications were needed in choosing the man who would carry out the mission of developing the steel sector from scratch. The man should have integrity, guts, knowledge and experience.

The president had no other choice but Park Tae-joon.

To the late chairman, taking the helm of the then Pohang Iron and Steel Co. was more of a burden than an honor. But it was a task he could not refuse or escape.

TJ, the affectionate name widely used by those close to him and in the media, made the steel mill’s construction site in Pohang his home.

He regarded workers as members of his family. He wore yellow uniforms and safety boots, not dandy suits and dress shoes.

His dreams during sleep, sweet or bitter, were all about the steel company. Overcoming all kinds of difficulties, Park accomplished the mission of building two steel mills, in Pohang and Gwangyang, in the shortest-ever time.

Without the two Parks, Koreans would not have the world’s fourth-largest steel company.

Without POSCO, the Korean shipbuilding and automotive industries would not exist as they do now. It would not have been possible for Korea to attain today’s level of wealth and global industrial prowess.

It was after Park Chung-hee died that TJ completed his mission to build the second mill in Gwangyang in October 1992. A tearful TJ reported the mission accomplished when he visited the grave of his boss at the National Cemetery.

It is almost 20 years since TJ visited the president’s grave. Few will remember the story, which I recall vividly and cherish deep in my heart.

I believe those who participated in the funeral Saturday to bid farewell to TJ and those who remember him will have thought about the fateful encounter of these two great Koreans.

They made such huge sacrifices for the nation, and what they achieved at POSCO was a precious and great contribution to the nation.

But it will be forgotten quickly unless we endeavor to take lessons from the two greats for the sake of ourselves and our future generations.

We may have a different national mission than the two Parks, but the spirit, dedication, integrity we need to achieve it will be the same.

May TJ rest in peace.

By Yoo Byung-chang

Yoo Byung-chang, now publisher-CEO of The Korea Herald, worked for POSCO from 1975 to 2010, holding positions including president of POSCO America and CEO of POSDATA, a predecessor of POSCO ICT. During his years with POSCO, Yoo worked closely with Park Tae-joon, the steel company’s founding chairman who died Tuesday last week. ― Ed.