National Debt Repayment Movement

The National Debt Repayment Movement (The National Debt Redemption Movement) was a movement by the people of the Korean Empire to repay their country's debt through collecting individual donations. It was started by Seo Sang-dong of Daegu on 30 January 1907. At that time the national debt was 13 million won. At the movement's height in 1908, it had amassed 190,000 won.

National Debt Repayment Movement
Hangul
국채보상운동
Hanja
國債報償運動
Revised RomanizationGukchae Bosang Undong
McCune–ReischauerKukch'ae Posang Undong

The movement attracted national appeal, and many gave up their tobacco in order to help repay the national debt. Women, including the kisaeng Aengmu, took a leading role in raising funds. The Japanese Government expected for the movement to subside. However, the movement later attracted the interest of the Japanese forces, who regarded it as a dangerous expression of Korean nationalism and sought to stifle and discredit it.

This movement failed because of the Japanese orchestrating false charges against the president of the bank holding the funds.[1][2]

A large park in central Daegu is dedicated to the memory of the movement.

See also

References
  • "Resident General's Office Report on Political Conditions, and a miscellenea", June 22, 1907 (JACAR Ref.B03041513600) and July 31, 1907 (Ref.B03041513800).
  1. "Spirit of colonial-era debt repayment movement lives on: PM Han". Korea.net. Retrieved 31 August 2009.
  2. "Prospectus of National Debt Repayment Movement". Korean National Heritage Online. Retrieved 31 August 2009.


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