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Mr. Bang Il Young resigned the counselor for Chosun Ilbo on Mar.18.1999 and left the press. It was in 55 years and 347 days sharp since he started his career in Chosun Ilbo as a secretary to his grandfather Mr. Bang Eung Mo on Apr.6,1943. He led 2/3 of the 80 years old Chosun Ilbo.

He has been through the thorny path of Chosun Ilbo sharing its joys and sorrows. After Mr. Bang Eung Mo was kidnaped during the Korean War, Mr. Bang Il Young took the presidency in April 1954.
He had to take the duty to keep on publishing newspaper under the desperate circumstances that printing facility was entirely destroyed. Though he was driven many times to the death edge of financial crises, he overcame them all and brought Chosun Ilbo up to be the most influential newspaper with the biggest circulation.

He took the office of chairman in November 1964 and then became a counselor in March 1993.

In 1994, he establish such as Bang Il Young Traditional Music Award to promote culture, arts and sciences. And he retire counselor of Chosun Ilbo, and win the Gold crown culture medal from goverment in 1999. Mr. Bang Il Young passed away 8th August 2003 when he was 80 years old.