Ex-finance minister dies
The late Song
Song In-sang, who served as finance minister during the Syngman Rhee administration in the late 1950s and an economic advisor for the late President Park Chung-hee, died Sunday. He was 101.
Song played a key role in forming Korea’s export-oriented growth policies in the 1950s and 1960s and expanding Korea’s export markets to Europe as an ambassador to the European Community in the 1970s.
He was named as the inaugural CEO of the Export-Import Bank of Korea when it was founded in 1976, and later headed the Korea Management Association, the country’s oldest business consultancy, for 20 years.
Song is survived by one son and four daughters. Hyosung Group Chairman Cho Suck-rae is one of his sons-in-law.
A memorial altar was set up at Yonsei University’s Severance Hospital in Seoul. The funeral is scheduled for 6:30 a.m., Wednesday.