Following the resignation of Kim Yong-beom, the former Chief of Policy at the Blue House, attention is turning to the appointment of his successor and the role division with Lee Hyung-il, the candidate for Economic Deputy Prime Minister and Minister of Finance. Lee has indicated plans to enhance the policy coordination function within the economic ministries, making the expertise of the new policy chief crucial for the operation of the second economic team.
The Blue House is moving forward with the appointment process after accepting Kim's resignation on September 1. Officials have described this change as a way to invigorate the second economic and policy line and accelerate policy implementation, ensuring that there are no disruptions in governance.
During a press briefing at the Government Sejong Center on September 2, Lee announced plans to strengthen the pre-review and coordination functions of the Economic Ministers' Meeting. He proposed that key policies be coordinated in advance with relevant ministries and the Blue House, and that contentious issues be discussed regularly in a so-called 'Economic Issues Meeting.'
This indicates that the Economic Deputy Prime Minister will actively take on the role of coordinating policies across individual ministries. The collaboration framework between the policy chief, who supports the President's policy vision, and the Economic Deputy Prime Minister, who leads the Cabinet, will be intertwined with the upcoming appointment.
Among current officials, Kim Jeong-kwan, the Minister of Trade, Industry and Energy, is being mentioned as a leading candidate. Kim has held various positions in the Ministry of Economy and Finance, including Director of Economic Analysis and Director of Comprehensive Policy, and has experience in corporate management at Doosan Enerbility. In the current administration, he has dealt with industrial and trade issues, including U.S.-Korea trade negotiations and major investment projects.
If appointed, Kim could allow Lee to oversee macroeconomic policies, including inflation and taxation, while the policy chief supports industrial investment and large-scale project implementation. However, the need to reappoint the Minister of Industry and undergo a National Assembly confirmation hearing poses challenges, as does the continuity of ongoing trade issues.
Yoon Chang-ryeol, the former head of the Office for Government Policy Coordination, is also considered a candidate who could complement economic policy with social policy. He has served as the social policy chief in the Blue House during the Moon Jae-in administration and as the first head of the current government's Office for Government Policy Coordination, addressing health, welfare, and labor issues. He also has experience working in the private sector as the head of LG's Global Strategy Development.
Given Lee's emphasis on boosting potential growth and addressing polarization, Yoon's experience in social policy could enhance the economic team's expertise. His role would involve coordinating policies between economic and social ministries to connect the outcomes of growth with welfare, employment, and support for vulnerable groups.
Lee Eok-won, the Chairman of the Financial Services Commission, is noted for his strong understanding of economic policy and financial markets. He has held various roles, including Director of Economic Policy at the Ministry of Economy and Finance and Deputy Minister of Finance, and now leads the Financial Services Commission. This combination could facilitate collaboration with financial authorities while sharing practical experience in economic policy with Lee.
However, both candidates are from economic policy backgrounds, raising questions about how to supplement expertise in other areas such as industrial and social policy.
Lee Han-joo, the Chairman of the Economic and Social Research Council and Special Policy Advisor to the President, is also mentioned as a candidate who understands the President's policy philosophy well. He has participated in designing key policies such as basic income and local currency and has chaired the National Planning Committee since the government’s inception, formulating national tasks. If appointed, the policy chief could focus on specifying national direction and tasks while the Economic Deputy Prime Minister coordinates implementation across ministries.
Internally, the Blue House is also considering the promotion of Ha Jun-kyung, the Chief of Economic Growth, and Ryu Deok-hyun, the Advisor for Financial Planning. Both have been involved in growth and fiscal policy since the early days of the administration, which could ensure continuity in policy. However, as they are seen as maintaining the existing policy line, their ability to bring about renewal remains a variable.
As the selection process unfolds, the choice of candidates will likely influence whether the new appointment will favor a bureaucrat familiar with the economic ministries or someone who can enhance experience in industrial, social policy, or national task design. It is also noted that the Deputy Prime Minister and the policy chief will need to work together to align policy directions and external communications.
Meanwhile, during the briefing, Lee expressed his intention to ensure that key issues are discussed and coordinated in advance with the relevant ministers and Blue House officials, indicating a commitment to close collaboration once the new appointment is made.
* This article has been translated by AI.
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