'5 Billion Severance Pay' Kwak Sang-do's Son: "I Earned It by Working Hard and Being Recognized"
Gwak Sang-do, a member of the People Power Party, who was revealed to have received a large retirement payment from Hwacheon Daeyu through his son, submitted his resignation on the 26th. The photo shows Gwak Sang-do debating at the National Assembly plenary session on February 26. Photo by Yonhap News
[Asia Economy Reporter Heo Midam] Gwak Sang-do, an independent lawmaker (62), faced controversy after his son, Gwak Byeong-chae (32), received 5 billion won in severance pay following six years of work at Hwacheon Daeyu Asset Management (Hwacheon Daeyu). In response, Gwak Byeong-chae explained himself by comparing the situation to the Netflix original drama Squid Game. However, the controversy does not seem to subside easily, as parodies satirizing Gwak have continued to appear online.
On the 27th, numerous online communities saw the spread of a parody poster titled Fifty Billion Game, which mimics the Squid Game poster by replacing the original title with 'Fifty Billion Game.'
There was also an image replacing the lead actor Lee Jung-jae of Squid Game with lawmaker Gwak. Additionally, a parody poster altered the People Power Party, to which Gwak belongs, to read 'Dad’s Power.'
Netizens who encountered these parodies expressed critical reactions such as, "Is it reasonable to work for six years and receive 5 billion won? Can all office workers enduring stress expect 5 billion won in severance pay? It’s absurd," "Son, I’m sorry that your dad doesn’t have power," and "Six years of work for 5 billion won? I don’t want to go to work anymore."
Earlier, when controversy arose over the 5 billion won severance pay Gwak received from Hwacheon Daeyu, he issued a statement on his father Gwak’s Facebook, saying, "I am merely a 'pawn' in the meticulously designed Squid Game."
He stated, "I am just a 'pawn' in the meticulously designed Squid Game. A 'pawn' in the game called 'Hwacheon Daeyu.' What could I have done or achieved as a 'pawn'? When I joined, all the settings at 'Hwacheon Daeyu' were already complete. I did what I was told from above and gave it my all. Looking back, from the designer’s perspective, I was a very faithful pawn."
Recently, a poster parodying the 'People Power Party' as 'Dad's Power' has been circulating mainly on online communities. Photo by Online Community Screenshot.
He continued, "I believe there will definitely be people who say that the bonuses, consolation money, and severance pay are excessive. However, I thought that putting all my efforts into this company, 'Hwacheon Daeyu,' would be more rewarding than going all-in on stocks or coins, so I bet everything on this company."
Gwak also said, "It is true that I worked hard, was recognized, and earned a lot of money despite the toll on my health," but emphasized, "It is not true that my father is behind 'Hwacheon Daeyu' and that I received rewards because of that. I did not want to disclose my personal issues, especially those related to my health, to anyone, including my family."
Furthermore, he questioned, "Is the essence of the Daejang-dong case a problem of a scheme designed to make billions, or is it an issue concerning an individual who worked hard within that scheme?"
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