The cause was complications of lung disease, said a spokesman for Yonsei University’s Severance Hospital. Hospital officials who announced the death said that Park previously underwent surgery on his lung in 2002 but never fully recovered.
Born in Yangsan, Gyeongsangnam-do in 1927, the late Park was regarded as the symbol of Korea’s rapid economic growth and the epitome of the indefatigable entrepreneurial spirit. Assigned by Park Chung-hee, fifth president of Korea, as steel tycoon of the Korean steel industry, he was in the vanguard of a project to build Pohang Iron & Steel Co., POSCO’s predecessor, in Pohang in 1963. Park had been a trusted confidant of the president since he encountered Park Chung-hee who was a professor at that time. They served together in the army and joined in a military coup when Park Chung-hee seized power in 1961.
According to World Steel, the industry’s global trade association, POSCO currently has an annual steel production capacity of 37 million tons, the fourth amongst steel companies internationally.
Mourners flowed in and out all day at the ceremonial funeral hall set up in Yonsei University’s Severance Hospital where Park had been. According to the funeral committee, over 2500 visitors came to the hospital to pay their respects. Furthermore, over 87 thousand visited temporary altars set up in many places nationwide to honor the late Mr. Park. Also, 1268 Postechians visited the temporary altars set up on campus.
The funeral for Park was took place at the POSCO headquarters in Seoul on Dec. 17. For his service and contribution to the country, Park was buried at the country’s National Cemetery in Seoul and the funeral service was attended by over 600 people, including top political and government figures and foreign envoys such as Park Hee-tae, speaker of the National Assembly, and Yoshiro Mori, the former Japanese Prime Minister. The eulogy was prepared by Chairman Joon-yang Chung of POSCO, a renowned Korean novelist Cho Jeong-rae, and Sukwoo Hong, the Minister of Knowledge Economy.
With the eulogy, Cho paid tribute to Park`s life and work by calling him Park Mahatma, named from Mahatma Gandhi who put the idea of “Non-possession” into practice as part of his nonviolent resistance. “Building a top-notched steel company which earns 1000 billion KRW in a quarter, still you don’t even possess a single house. You are the Korean Gandhi, Mahatma Tae-Joon Park.” Also, Park Jyun-kyu, former speaker of the National Assembly, chose not to read from his prepared eulogy, saying, “I lost my precious friend who I am joking with, but I respect ChungAm (the pen name of Park) from the bottom of my heart for [influencing] the country like this.”
“He played an enormous role in Korea’s industrialization process. I am deeply saddened by his passing,” said Lee Myung-bak, the president of Korea.
Park is awarded a medal of honor for great contribution to the national economy. Also Park Tae-Joon Memorial Museum will be built in his hometown in Busan and is expected to be finished by 2013.
