Word: syngman
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...last spring, Arthur Dean, President Eisenhower's special envoy to South Korea, sat in Syngman Rhee's presidential mansion, discussing Korea's galloping inflation. Dean thought the solution was to let the hwan find its own level (i.e., free-market dollar value), then siphon away the excess hwan currency that was drowning the country. Said Syngman Rhee: "Nonsense. The best way to fight inflation is to say that the hwan is worth 180 to the dollar and then keep it there." At that time the hwan was worth less than that and fast losing ground...
...even 750 to $1. Rhee himself showed what he. thought of the sanctity of the official rate by allowing the Bank of Korea to auction off a hoard of accumulated U.S. greenbacks (mostly to Korean importers). The prices paid were around 500 hwan to $1. Still Syngman Rhee would not change the official rate. His decision cost the U.S. military in Korea millions of dollars in unnecessary expense, and gave many South Koreans lush windfalls. In holding to 180 to $1, Rhee also broke his 1953 agreement with the U.S., by which the hwan is supposed to be pegged...
...Tyler Wood of the Foreign Operations Administration. As Wood well knew, Bechtel was there to see how Korea's orphanages and hospitals were making out. But Ty Wood had another project that he considered just as important. For months, he had been unsuccessfully trying to persuade President Syngman Rhee to approve FOA plans for three coal-burning power plants for Korea. Would Bechtel please try his hand? Bechtel agreed to see what he could...
...liver ailment; in Washington. A onetime newspaperman, Shafer learned his law from correspondence school, became known in the House for bluntly spoken opinion. He demanded a breakoff in diplomatic relations with Russia in 1949, demanded full U.S. recognition of Franco Spain the same year, befriended Korea's Syngman Rhee and warned, in 1947, of the dangers of a divided Korea. In 1952 he introduced a resolution calling for the impeachment of President Truman because he thought Truman had overstepped his bounds in seizing the steel mills...
...will be broadened (it is always hoped) to include other nations later on. But a grand flotilla of allies must travel at the speed of the slowest ship in the convoy. The old-fashioned solution would be to make hard-and-fast arrangements-separately or in small groupings-with Syngman Rhee, with Chiang Kaishek, with Ramon Magsaysay, with Mohammed...