Inflation threatens Korea,
University alumnus says
South Korea’s economic miracle may be
coming to an end.
Speaking Monday at the University Law
School, freelance journalist Tim Shorrock said
South Korea faces a deepening economic crisis
that threatens to boil over into a political crisis.
Shorrock, who visted Korea in February and
talked to government officials, students and
opposition leaders there, said Korea's 20-year
economic boom is petering out.
In the early 1970s, the Korean government
started a crash program to build up heavy indus
tries such as steel and cement, said Shorrock,
who holds a degree in Asian Studies from the
University. But the massive capital investments
needed to finance that development, coupled
with the rising costs of imported oil and heavy
defense expenditures, have caused an inflation
ary spiral, he said.
Because Korea imports more than it exports,
the country has suffered an enormous trade
deficit in recent years, Shorrock said.
The inflation rate in Korea in 1980 hovered
between 40 and 50 percent, and the nation’s trade
deficit approached $5 billion.
Korea’s economic problems have caused a
rising tide of worker unrest that has been vigor
ously and sometimes violently repressed by the
current regime of Chun Doo Hwan, Shorrock said.
The Chun government drafted a new consti
tution that in effect gave the government com
plete control over the press, he said Radio and
TV stations were consolidated under government
control, and all press stories were subject to
pre-publication censorship, he added.
"There are very few investigative journalism
stories."
But Shorrock noted the new constitution
really was aimed at the trade unions.
The Chun government’s occasional reliance
on force to quell demonstrations especially has
angered many Koreans, Shorrock said.
In May 1980 government troops crushed an
uprising in the town of Kwangju, where a week
earlier the townspeople had driven riot troops out
of town.
According to eyewitnesses, riot troops
bayoneted both student demonstrators and on
lookers, Shorrock said.
About 170 people died in that uprising, ac
cording to a Korean governement report. Some
diplomats and residents have estimated that more
than four times that number actually died, and the
Associated Press estimated 270
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THE de Frisco^
TRADmON
.4 V
"Building a legend among Eugene's beer drinkers"
1852
1854
1877
1977
1978
1978
1979
1980
TODAY
"Hones!” Henry Meigs, alias “Don Knrique de Frisco.” developer of
San Francisco's North Beach area, opens San Francisco's famous
Hush St. Music Hall. The de Frisco's tradition is born.
Meigs splits for Tahiti loaded with $17,000 worth of wine and gourmet
delicacies, after appropriating over $1,000,000 from city treasury.
"Don Enrique" dies in Peru a multi millionaire builder of the famous
railway system over the Andes that “couldn't be built". To celebrate
the completion. Meigs threw perhaps the most extravagant party ever
— a five steamship cruise — costing 4-5.000.000 in today's dollars.
On the 100th anniversary of Meig s death. Dick Meigs, great, great
nephew of the "beloved rogue,” opens Eugene's de Frisco's, dedicated
to the memory and style of his illustrious ancestor The tavern
featured Eugene's first serious selection of imported beers in a
traditional atmosphere of solid oak and brass that would have made
"Honest Henry" feel right at home. Rosewood backgammon tables
were built to exacting specifications in memory of Uncle Henry's
highly refined sporting instincts, and darts were introduced.
de Frisco's introduces world famous Heineken and Cuiness Stout on
draft to the Eugene area Among the many distinguished bottled beers
introduced to Eugene at de Frisco's during this time were Elephant
Malt Liquor. Watney's anil Pilsner IJrquall. the original pilsner beer
de Frisco's completes the expansion of Eugene's Landmark tavern in
an attempt to better meet the demands of the beer drinking public de
Frisco's also starts hosting Eugene City Backgammon Championships
annually.
de Frisco's adds to it’s fine assortments. Champagne on tap. and Bass
ale. also on tap Bottle beers introduced for the first time in the Eugene
area include Moosehead Lager. Orangeboom. Foster's from Australia,
and Sammual Smith out of England's oldest brewery. Weekly
backgammon tournaments begin every Monday Night
|ohn Courage, a fine English pilsner is added on tap Dart tour
naments begin every Sunday Night, and a dart challenge match with
Portland's finest begins. Eugene loses the first challenge and owner
Dick Meigs is "pied"
Dick Meigs and his dedicated staff carry on the de Frisco s tradition,
serving the world's outstanding briers to Eugene's discriminating
drinkers, and Meigs is practicing his dart game so he is not "pied in
the next challenge match with Portland
i Beer Drinker's Establishment
in the Atrium
• Backgammon
Classic Pool • Darts |
and other traditional
tavern sports