Jump to content

Gold-collecting campaign: Difference between revisions

Edit links
From Wikipedia, the free encyclopedia
Browse history interactively
← Previous editNext edit →
Content deleted Content added
VisualWikitext
M.JiWon (talk | contribs)
253 edits
M.JiWon (talk | contribs)
253 edits
Line 17: Line 17:


== Criticism of the gold collecting campaign ==
== Criticism of the gold collecting campaign ==
The Gold-Collecting Campaign is regarded as a driving force for the people to overcome the foreign exchange crisis.<ref name=":6">{{Cite news|url=http://www.asiae.co.kr/news/view.htm?idxno=2017111408202296260|title=국민 10명중 6명 "외환위기, 삶에 부정적 영향"…비정규직 등 심화(6 out of 10 Koreans "Foreign Currency Crisis, Negative Impact on Life" ... Deepening of irregular employment)|last=조(Cho)|first=영주(Young-ju)|date=2017-11-14|work=아시아경제(Asian Economy)|access-date=}}</ref> According to a survey conducted by the Korea Development Institute (KDI) to understand the impact of the IMF on the perception of the public and its impact on life for the 20th anniversary of the 1997 financial crisis, according to the IMF crisis, (42.4 percent).<ref name=":6" /> In addition, the unity of the people (54.4%) as the driving force to graduate from the foreign exchange crisis was the highest priority, which is higher than the restructuring and reform efforts (15.2%).<ref name=":6" />
⚫
When it started on January, 1998, the news articles repeatedly reported how people voluntarily participated, how much it could be helpful to overcome national crisis, and how shameful not participating with self-sacrifice behavior for country.<ref name=":1">{{Cite journal|last=Cheon|first=Hyejung|date=2017-10-31|title=Imf 외환위기 기억의 사회적 구성: 조선일보의 ‘금 모으기 운동’ 기사를 중심으로 (Social Memory of IMF's Bailout in 1997: Recollection of ‘Gold-Collection Campaign’)|url=https://papers.ssrn.com/abstract=3135100|language=en|location=Rochester, NY}}</ref> Emphasizing the patriotism of the Korean people, it blurred the right reasons for economic crisis by emotional things. Instead, ideological effect such as ‘we can do it’ was succeeded.<ref name=":1" /> After the official close of the campaign, it was articulated other discourse by restructuring process.<ref name=":1" /> That is, the social memory of ‘gold collection campaign’ was reconstructed in combination with discourse of economic crisis, justification of Neoliberalism economic policies such as Pro-Chaebol, Capitalist-friendly policies, and labor flexibility, discourse of peoples’ over consumption, nostalgia for Park’s regime.<ref name=":1" /> Overall, it served only as a tool for constructing arbitrary discourses, and consequently critical reflection of historical event ws ignored.<ref name=":1" />

⚫
Meanwhile, when it started on January, 1998, the news articles repeatedly reported how people voluntarily participated, how much it could be helpful to overcome national crisis, and how shameful not participating with self-sacrifice behavior for country.<ref name=":1">{{Cite journal|last=Cheon|first=Hyejung|date=2017-10-31|title=Imf 외환위기 기억의 사회적 구성: 조선일보의 ‘금 모으기 운동’ 기사를 중심으로 (Social Memory of IMF's Bailout in 1997: Recollection of ‘Gold-Collection Campaign’)|url=https://papers.ssrn.com/abstract=3135100|language=en|location=Rochester, NY}}</ref> Emphasizing the patriotism of the Korean people, it blurred the right reasons for economic crisis by emotional things. Instead, ideological effect such as ‘we can do it’ was succeeded.<ref name=":1" /> After the official close of the campaign, it was articulated other discourse by restructuring process.<ref name=":1" /> That is, the social memory of ‘gold collection campaign’ was reconstructed in combination with discourse of economic crisis, justification of Neoliberalism economic policies such as Pro-Chaebol, Capitalist-friendly policies, and labor flexibility, discourse of peoples’ over consumption, nostalgia for Park’s regime.<ref name=":1" /> Overall, it served only as a tool for constructing arbitrary discourses, and consequently critical reflection of historical event ws ignored.<ref name=":1" />

Revision as of 14:38, 25 June 2018

The gold collection campaign was a voluntary sacrificial movement for the nation in 1997 to repay the debt of the Republic of Korea when the IMF asked for relief money. At that time, Korea had about $ 304 billion in foreign exchange debt. The campaign, involving about 35.1 million people nationwide, collected about 227 tons of gold.[1] It was worth about $2.13 billion. It has become a representative example of the people's willingness to sacrifice their lives amid difficulties in the national economy.[2]



The beginning of the gold collecting campaign

On July 2, 1997, Thailand changed its fixed exchange rate system, which has been maintained for the past 13 years. As the exchange rate system is shifted, the price of Thai baht in the foreign exchange market plunged This was a direct impetus for the East Asian financial crisis. [3]Therefore, In an attempt to defend the country, On May 21, the IMF was asked to provide liquidity adjustment funds.[3] At that time, There was a lot of controversy about what the real cause of the The direct cause was 'foreign exchange liquidity'[3]. In other words, the domestic foreign exchange market lacks the dollar, the KRW(The monetary unit of Korea) exchange rate surges, and some financial institutions are faced with the inability to repay foreign debts.[3] This is due to the fact that the foreign exchange crisis has been amplified, As a result, foreign borrowing by financial institutions was blocked, making it difficult to repay short - term external debt of $30 billion and long - term external debt of $45 billion.[3] In the face of such a situation, "one dollar collecting campaign" was raised but it did not get much attention. Then, from January 6, 1998, the next year, KBS proposed a proposal to develop a 'gold gathering movement'.[3] At the same time, this movement has received nationwide attention from the beginning of the campaign.[3]

The development of a gold collecting campaign

The nationwide gold collecting campaign began on December 25, 1997, when KBS first reported on the news suggesting a gold collecting campaign.[4] On January 5, 1998, KBS started a gold collecting campaign in earnest with the Housing Bank.[4] The gold collecting campaign has not been developed around a single organization but has been developed by various media organizations and organizations participating competitively in the response of the public after the KBS report. In the gold collecting campaign, gold was received through six banks: Housing Bank, Nonghyup, Kookmin Bank, Korea Exchange Bank, Saemaeul Bank, and Industrial Bank. In fact, the gold collecting campaign is represented by two campaigns: KBS's "Nation love gold collecting campaign" and MBC and civic organizations' ‘gold collecting campaign for foreign debt repayment’.[4] The 'gold collecting campaign' was conducted from January 5, 1998 to April 30, 1998, in terms of time. On January 5, 1998, the gold received in the day reached 3,314 kg in 44,748 consignments, and 531 donations in 4.13 kg. On January 5th, the number of participants exceeded 500,000, and on January 15th, the number of participants exceeded 1 million.[5] At the end of the first campaign, January 31, the total number of participants was 1,169Kg in 1,669,555 people. The first campaign was held from January 5 to January 31 and the second campaign was held from February 5 to February 21.[5] A total of 314,515 people participated in the second campaign of the "Nation love gold collecting campaign", with a total volume of 19,326 kg. The case of 'gold collecting campaign for foreign debt repayment' led by MBC, consumer, and civic group was actually carried out continuously from January 12 to March 14. For the 'gold collecting campaign for foreign debt repayment', the total number of participants is 884,000 and the collection volume is 49,603Kg.[5] The gold collecting campaign showed the most active participation in the month of January, and the participation rate gradually slowed down from February.[6] The total number of participants (3.51 million people) collected by the Ministry of Commerce, Industry and Energy and 30% of the collection volume are concentrated in the first 10 days of the gold collecting campaign.[6] Though it was not as hot as the first time, participation trends continued throughout February, and MBC and the NACF led a total of 3.51 million people until March 14, when the second campaign ended. In the 'gold collecting campaign for foreign debt repayment', the third campaign was extended and extended until April 30, but after March 14, the participation decreased significantly.[6]

The campaign for collecting gold started on January 5, 1998. The public who participated in the gold collecting campaign will receive a confirmation letter from the professional appraiser when they give out the gold (pure gold 24K). After the export, the dollar was evaluated at the exchange rate and the international gold price at the time, and the money was later returned in won(\).[7] The gold collecting campaign, officially ended on March 14, was continued by the National Agricultural Cooperative Federation. Some 225 tons were raised, including 165t in January 1998, 53t in February, 5t in March, and 0.8t in April, and the number of people who participated in the event was 3.49 million nationwide.[8] The media reported on the participation of companies such as Samsung Group and Daewoo Group, or sports entrants such as Lee Jong-bum, President Kim Dae-jung and Lee Kun-hee. They also encouraged the participation of the gold-gathering movement, noting the news of the general public, Chung Sung-hwan, who donated a deposit of 500,000 won.[9] After March 1998, when the campaign was completed, mainly the performance was reported. The report covers the fact that it can overcome the economic crisis mainly by collecting gold.[10] The gold collecting campaign emphasizes voluntary participation and patriotism and has been developed in a way that encourages the participation of the whole people for the convenience of participation.[11]

The result of the gold collecting campaign

At the end of February 1998, five financial institutions such as the housing Bank and Kookmin Bank stopped collecting gold, and the end of April was the end of the NACF.[12] The amount of gold that has been taken off since January 5, when the exercise began, is about 2,27 tons. In January, the highest number of 165.65 tons was removed, followed by 53.96 tons in February, 5.38 tons in March, and 800 kg in April.[12] More than 3.3 million people participated in this event nationwide. It is an average of 65 grams per household.[12] It is a level that can be called 'the second national treasury compensation movement'.[12]

Criticism of the gold collecting campaign

The Gold-Collecting Campaign is regarded as a driving force for the people to overcome the foreign exchange crisis.[13] According to a survey conducted by the Korea Development Institute (KDI) to understand the impact of the IMF on the perception of the public and its impact on life for the 20th anniversary of the 1997 financial crisis, according to the IMF crisis, (42.4 percent).[13] In addition, the unity of the people (54.4%) as the driving force to graduate from the foreign exchange crisis was the highest priority, which is higher than the restructuring and reform efforts (15.2%).[13]

Meanwhile, when it started on January, 1998, the news articles repeatedly reported how people voluntarily participated, how much it could be helpful to overcome national crisis, and how shameful not participating with self-sacrifice behavior for country.[14] Emphasizing the patriotism of the Korean people, it blurred the right reasons for economic crisis by emotional things. Instead, ideological effect such as ‘we can do it’ was succeeded.[14] After the official close of the campaign, it was articulated other discourse by restructuring process.[14] That is, the social memory of ‘gold collection campaign’ was reconstructed in combination with discourse of economic crisis, justification of Neoliberalism economic policies such as Pro-Chaebol, Capitalist-friendly policies, and labor flexibility, discourse of peoples’ over consumption, nostalgia for Park’s regime.[14] Overall, it served only as a tool for constructing arbitrary discourses, and consequently critical reflection of historical event ws ignored.[14]

  1. ^ 조, 문호 (2008-10-18). "'전국민 달러 모으기' 애국인가 망국인가". 매일신문.
  2. ^ 헤럴드경제 (2013-05-03). "[위크엔드] 換亂극복 '눈물의 금모으기'…한국은 울고, 세계는 감동했다" (in Korean). Retrieved 2018-06-25.
  3. ^ a b c d e f g Gun, Park (2007). "A Study on the Social Construction of Collective Memory: Focusing on NRC and CGC". Culture & Society (in Korean). 2. ISSN 1975-7239.
  4. ^ a b c 이순영 (2004). 국가위기시 상징적 통합에 대한 연구 : 금모으기 운동(1998)과 국채보상운동(1907-1908)의 담론분석 (Thesis) (in Korean). 서울대학교 대학원.
  5. ^ a b c 이순영 (2004). 국가위기시 상징적 통합에 대한 연구 : 금모으기 운동(1998)과 국채보상운동(1907-1908)의 담론분석 (Thesis) (in Korean). 서울대학교 대학원. p. 24.
  6. ^ a b c 이순영 (2004). 국가위기시 상징적 통합에 대한 연구 : 금모으기 운동(1998)과 국채보상운동(1907-1908)의 담론분석 (Thesis) (in Korean). 서울대학교 대학원. p. 25.
  7. ^ "㈜대우.주택은행.고려아연, 장롱속 金 수집운동(Daewoo Corporation, A housing bank, Goryeo zinc. A campaign to collect gold in a wardrobe)". 연합뉴스(Yonhap News). 1997-12-30.
  8. ^ 천(Cheon), 혜정(Hyejung) (Fall 2017). "IMF 외환위기 기억의 사회적 구성 - 조선일보의 '금 모으기 운동' 기사를 중심으로 (Social Memory of IMF's Bailout in 1997 : Recollection of 'gold-collection campaign')". 사회과학연구논총(Ewha Journal of Social Sciences). 33(2): 371–372.
  9. ^ 천(Cheon), 혜정(Hyejung) (Fall 2017). "IMF 외환위기 기억의 사회적 구성: 조선일보의 '금 모으기 운동' 기사를 중심으로 (Social Memory of IMF's Bailout in 1997: Recollection of 'Gold-Collection Campaign')". 사회과학연구논총(Ewha Journal of Social Sciences). 33(2): 372.
  10. ^ 천(Cheon), 혜정(Hyejung) (Fall 2017). "IMF 외환위기 기억의 사회적 구성: 조선일보의 '금 모으기 운동' 기사를 중심으로 (Social Memory of IMF's Bailout in 1997: Recollection of 'Gold-Collection Campaign')". 사회과학연구논총(Ewha Journal of Social Sciences). 33(2): 373.
  11. ^ 천(Cheon), 혜정(Hyejung) (Fall 2017). "IMF 외환위기 기억의 사회적 구성: 조선일보의 '금 모으기 운동' 기사를 중심으로 (Social Memory of IMF's Bailout in 1997: Recollection of 'Gold-Collection Campaign')". 사회과학연구논총(Ewha Journal of Social Sciences). 33(2): 374.
  12. ^ a b c d 조(Cho), 준상(Junsang) (1998-05-21). "본전도 못건진 금모으기운동(The gold collecting campaign that can not find the principal)". 한겨례21(Hankyoreh 21).
  13. ^ a b c 조(Cho), 영주(Young-ju) (2017-11-14). "국민 10명중 6명 "외환위기, 삶에 부정적 영향"…비정규직 등 심화(6 out of 10 Koreans "Foreign Currency Crisis, Negative Impact on Life" ... Deepening of irregular employment)". 아시아경제(Asian Economy).
  14. ^ a b c d e Cheon, Hyejung (2017-10-31). "Imf 외환위기 기억의 사회적 구성: 조선일보의 '금 모으기 운동' 기사를 중심으로 (Social Memory of IMF's Bailout in 1997: Recollection of 'Gold-Collection Campaign')". Rochester, NY. {{cite journal}}: Cite journal requires |journal= (help)
Retrieved from "https://en.wikipedia.org/w/index.php?title=Gold-collecting_campaign&oldid=847460973"