National Debt Redemption Movement Memorial Park (), alternatively National Debt or Gukchae Park, is a park that is located in Jung District,

Daegu Daegu (, , literally 'large hill', 대구광역시), formerly spelled Taegu and officially known as the Daegu Metropolitan City, is a city in South Korea. It is the third-largest urban agglomeration in South Korea after Seoul and Busan; it is ...

, South Korea. Construction of the park began in March 1998 and was completed in December 1999. It has an area of . It is named for and commemorates the 1907–1908

National Debt Repayment Movement The National Debt Repayment Movement (The National Debt Redemption Movement) was a movement to restore national power between 1907 and 1908 to repay government bonds with public fundraising. It was started by Seo Sang-dong of Daegu on 30 January 1 ...

(), an act of the

Korean independence movement The Korean independence movement was a military and diplomatic campaign to achieve the independence of Korea from Japan. After the Japanese annexation of Korea in 1910, Korea's domestic resistance peaked in the March 1st Movement of 1919, which ...

, when the country was indirectly ruled through the

Japanese Resident-General of Korea The Japanese resident-general of Korea ( ja, 韓国統監, Kankokutōkan; ko, 일본의 대 한국통감, Ilbon-ui dae hangugtong-gam) was the leader of Korea under Japanese rule from 1905 to 1910. This post was highly hated among native Korea ...

. The movement started in Daegu. It also commemorates the 1998

gold-collecting campaign In South Korea, the gold-collecting campaign was a national sacrificial movement in early 1998 to repay its debt to the International Monetary Fund. At the time, South Korea had about $304 billion in foreign-exchange debt. The campaign, involving ...

during the

1997 Asian financial crisis The Asian financial crisis was a period of financial crisis that gripped much of East Asia and Southeast Asia beginning in July 1997 and raised fears of a worldwide economic meltdown due to financial contagion. However, the recovery in 1998–1 ...

. It contains walking areas, green spaces, and other amenities. There is an underground parking lot for visitors. The Dalgubeol Grand Bell was installed in a pavilion in the park in December 1998. It also has memorials to several figures in Korean history. The National Debt Redemption Movement Memorial Museum opened in the park on October 5, 2011. It has two stories above ground and two stories below ground.

References

External links

* {{YouTube, id=TOnCksCj9KA, title=대구 국채보상공원 GukChaeBoSang Park (National Debt Redemption Movement Memorial Park) in Daegu, Korea – An aerial overview of the park, captured using a drone Parks in Daegu Jung District, Daegu