Miracle of Han River

Miracle of Han River

             Nineteen ninety-seven was a meaningful year for my family. It was the year I was born and there was a big crisis in Korea called The International Monetary Fund (IMF). Korea owed millions of dollars to the U.S. and it did not have enough dollars to pay them back. As a result, Korea’s economy had plunged. At that time, Koreans were feeling desperate, so many donated a lot of gold to the country to help the debt even though people did not have money. At that time, my father was working at a small company. , But my parents could not earn enough money to make a living because of his low salary. That was a tough time for my parents to raise my brother and me. The IMF crisis influenced my parents to realize about danger and importance of money. As my parents learned, they taught me about my own money management.

             One of the effects that my parents taught me about is saving money. If I wasted all of my money, I would be in trouble later on when it was urgent. In 1997, many companies fired employees because the companies did not have enough money to pay. Even though my father was not fired, his salary had been reduced. If my parents had not saved money previous to the crisis, my parents would not have been able to make a living. My mother saved money just in case if an emergency, and it was really helpful. Through the IMF, my mother realized that saving money is important and she taught me how to save money. Even though I cannot save money now because I do not work, I used to save money every month when I was in Korea.

             In addition to saving money, my parents taught me if I have enough money, I should donate it to poor people. There are many people all over the world who cannot even have a warm meal, so I should not be greedy. In 1997, many Koreans shared and donated money, gold, and clothes to the other people and the country. My mother also donated gold to the Korean government. She donated many meaningful accessories like my brother’s and my birth gold rings. My mother said that I should not expect rewards when I donate or help other people, and they might give help me in good faith when I need any help from others. Thus, I used to donate to UNICEF when I was in Korea, and I give some money or some food to homeless people in the United States.

Furthermore, my parents taught me that I should not get into debt or lend money to other people. The IMF was the country’s problem, so people could gather money and help for the country. However, if I owe money to others in the future, no one would help me. People do not have any reason to help me without rewards. If I do not mind whether I can get that money back or not, I can lend money. Otherwise, I should not lend a lot of money. My mother said relationships are more important than money, and that often lending money to others can ruin precious relationships. My grandparents ran a loan business and they closed their business in 1997. Even though lending was their business, they did not get money back from many customers. Customers did not have money because of terrible economy in Korea. My grandparents could understand customer’s financial conditions and they rid themselves of greed. My grandparents and some customers could be good friend because my grandparents chose friendship instead of money. As a result, after IMF crisis, when my family lent money to others, my family did not expect to get money back.

In conclusion, the meaningful year of 1997 had an important impact on my family. In Korea, this crisis is also called the Miracle of Han River because the Han River is the most famous river in Korea. My family had a tough life at that time, but they realized three important things about money which are do not waste money, help other people, and do not fall into debt. I also know those three things are important because those are my parents’ beliefs. My parents have had an important influence in shaping my values. I really thank my parents for not thinking of money easily. I know how I should be responsible for managing money by myself. If my parents did not learn that through the IMF crisis, I might not have proper awareness of money. Like my parents, I want to be a good mother who can set an example for my children. When I have a baby in the future, I also want to instill a correct sense of money, so they can grow up to be responsible humans.