elect Who Will Take Up Key Economic Posts?
By Lee Hyo-sik
Staff Reporter
A number of former ministers, CEOs and professors helped president-elect Lee Myung-bak draw up his pro-business economic policy pledges during the presidential campaign. Those who played a key role in the making of the former Seoul mayor's economic doctrines will also likely take up main economic posts at Lee's administration for the next five years.
Lee's potential economic aides include former Commerce Minister Yoon Jin-sik and former Woori Financial Group chairman Hwang Young-ki, who both served in major positions on his election campaign committees.
The former CEO of Hyundai Engineering & Construction personally headed the economic policy committee of his presidential campaign, while appointing Yoon as a vice committee chairman to micromanage the campaign's industry and overall macroeconomic policies. The other vice chairman Hwang was in charge of financial and business policies.
Yoon, who graduated from the business administration department of Korea University (KU) as president-elect Lee did, began his career in the Finance Ministry. He assumed key ministry posts throughout his career and was appointed as the first Minister of Commerce, Industry and Energy by President Roh Moo-hyun.
The former minister played a pivotal role in formulating a number of Lee's policy pledges aimed at improving people's livelihoods, including plans to rehabilitate credit defaulters. Yoon is widely considered as one of potential candidates for the first Deputy Prime Minister and Finance and Economy Minister of the Lee Myung-bak Administration.
Among others that are expected to assume key economic positions, former Vice Finance Minister Kang Man-soo, former Finance Minister Sa Kong-il, and KU professor Kwak Seung-jun are leading the pack as they have been deeply involved in formulating Lee's economic policies.
Kang played a crucial role in the formulation of the ``747 Vision'' ― 7 percent growth, $40,000 per capita income and becoming the seventh largest industrialized economy ― one of Lee's flagship pledges.
Prof. Kwak, along with Seoul National University professor Yu Woo-ik, was the mastermind behind Lee's 540 km cross-country canal project.
Among Grand National Party (GNP) officials, the party's chief policymaker Rep. Lee Han-koo, the former president of Daewoo Economic Research Institute, is widely considered one of the leading candidates to take a leading role in translating Lee's economic vision into practical plans and measures.
The lawmaker has been a sharp critic of the Roh administration's economic policies, calling them ``ideologically socialist.'' He has said president-elect Lee and the GNP will implement policies that are pro-business and pro-growth; will curb labor strife, cut taxes, reduce regulations; and promote a small government.