In 1965 my father worked as a chemical engineer for Swift and Co. out of Chicago. He was sent as part of a team that helped build and start a fertilizer plant in Ulsan. We lived there for two years when I was a young boy. I have tried finding this plant and the compound we lived in on Google Maps without much success. It doesn't help that I don't read Korean.
This is a description of the project that I found online. I'm trying to locate the plant and the compound where we lived on Google maps. I would appreciate any help that someone could provide me. Thank you for your consideration.
KOREA, YONG-NAM CHEMICAL CO., LTD
Date issued: January 10, 1966.
Duration of guarantee: 20 vears.
Total investment in project: $44,200,000.
Amount of guaranteed investment: $10 million.
Percentage of guaranteed investment covered : 50 percent.
Maximum U.S. liability: $5 million.
Guaranteed investor: Swift & Co. and Skelly Oil Co.
Project: The Yong-Nam Chemical Co., Ltd., will own and operate a complete fertilizer plant at Ulsan with an annual capacity of 148.000 metric tons of nitrogen, phosphate, and potash. In full operation the plant will employ about 400 workers and production should bring Korea a net foreign exchange saving of about $11 million annually.
The owners are Swift & Co., Skelly Oil Co., and the Chungju Fertilizer Corp., a Korean Government corporation.
An AID development loan of $24,200,000 supplies the additional financing. The U.S. investors are guaranteed against loss on 50 percent of their investments. The 50 percent not covered by extended risk is covered by specific risk guarantees.
