1962-66 ‘politics-based policy package’: diplomacy to acquire the seed money to jump-start growth
- diplomatic normalization w Japan 1965 to secure reparation funds ($600M accounting for about 42% of the total foreign capital), which will finance the launching of a newly organized Pohang Iron & Steel Company after 1967
- ‘honeymoon’ period w US Johnson’s administration (partly due to the dispatch of K troops to Vietnam; usually conservative US aid officials di d not fight Chang Ki Young’s unorthodox growth strategy, including the ‘reverse margin system’ (transferring income from state banks to the recipients of loans, mostly the chaebol in charge of Park’s strategic industrial projects)