From Nihon Chisso’s point of view, hydroelectric power was only one of the numerous projects that the company undertook in Korea. What it did buy in the process was enormous goodwill of the Government-General that subsequently was translated into opportunities for expansion in a number of other lucrative fields, such as nitrogen and fertilizer production; several of the larger Korean business groups also benefited from a close cooperation with the Government-General. Another research similarly documents the close cooperation between the colonial state and the Min brothers in the field of banking and Park Hung-sik in commerce; these ventures eventually matured into such major Korean chaebols as the Hwasin Department Store. Within the framework of war economy, the planned government-business cooperation became the basis of very rapid industrialization of Korea during 1930-1945.