PPP Lawmaker Choo Kyung-ho to Lead Economic Team
President-elect Yoon Suk-yeol is signaling that the new government’s role in its economic policies will be reduced so that private-sector market participants can lead economic growth more than before.
On April 10, he nominated People Power Party lawmaker Choo Kyung-ho as the head of his economic team, that is, deputy prime minister and minister of economy and finance. The nominee has been critical of the current Moon Jae-in administration’s policies, including income-led growth.
In the past, the nominee handled banking systems and financial policies at the predecessor of the Ministry of Economy and Finance, the Financial Services Commission and the ministry. The member of the 20th and 21st National Assembly worked at the Strategy and Finance Committee and the Special Committee on Budget and Accounts of the National Assembly.
In addition, KAIST professor Lee Chang-yang has been nominated as the head of the Ministry of Trade, Industry and Energy and former Jeju Governor Won Hee-ryong has been nominated to lead the Ministry of Land, Infrastructure and Transport. Each of the three nominees is an advocate of deregulation and economic growth led by the private sector.