BUSINESS

[Breaking] Blue House reshuffles top economic policymakers

By Bae Hyunjung

Kim Dong-yeon, Jang Ha-sung step down amid stagnant economy

  • Published : Nov 9, 2018 - 14:01
  • Updated : Nov 9, 2018 - 17:22
The presidential office Cheong Wa Dae on Friday replaced the nation’s top two economic policymakers -- Deputy Prime Minister and Finance Minister Kim Dong-yeon and presidential chief of staff for policy Jang Ha-sung -- amid persisting skepticism over the country’s struggling economy.

 
Presidential Chief of Staff for Policy Jang Ha-sung (left) meets with Deputy Prime Minister and Finance Minister Kim Dong-yeon in August, amid speculations on their discord. (Yonhap)


Minister Kim is to be replaced by Hong Nam-ki, chief of the Office for Government Policy Coordination, while Jang’s post is to be filled by Kim Su-hyun, senior presidential secretary for social affairs, spokesperson Kim Eui-kyeom said in a briefing.

Having served as presidential secretary under the former Roh Moo-hyun administration and the former Park Geun-hye administration, Hong is considered a balanced figure in financial bureaucracy who is apt at policy coordination between government departments, according to the Blue House.

Hong’s current post is expected to be filled by Noh Hyeong-ouk, deputy chief of the Office for Government Policy Coordination.

The possibility of Finance Minister Kim’s replacement had been speculated for months, as Asia’s fourth-largest economy continued to struggle, especially in terms of job indexes.


(Yonhap)

He also came under fire for his apparent conflict with the Blue House policymaker Jang, which was seen as a setback to President Moon Jae-in’s drive for innovative growth.

Jang, who has been steering Moon’s income-led growth initiative, will be replaced by Kim Su-hyun, a choice which some opposition lawmakers saw as a meaningless gesture as the two have largely been working as a team over the past months.

Kim's position will be filled by Kim Yeon-myung, professor of social welfare at Chung-Ang University.

By Bae Hyun-jung (tellme@heraldcorp.com)


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