Finance minister flags bid for parliamentary re-election

Finance Minister Choi-kyung-hwan hinted Thursday that he may run for re-election in next year's parliamentary race, but stressed that he will do his utmost to overcome the country's economic challenges while in office.

Speaking at the National Assembly's interpellation session in Seoul, the three-term lawmaker said there are plenty of other people qualified to take the helm at the finance ministry. Choi has held the job since July 2014.

He also pointed out that many opposition lawmakers have claimed that the country's economy might be better off without him at his Cabinet post.

Choi, who doubles as deputy prime minister in charge of economic affairs, however, made clear that he will not waiver in his current duties while he holds office.

"As long as I am a member of the Cabinet, I will do whatever it takes to overcome difficulties facing the country," he said.

He also said that he had not received permission from President Park Geun-hye to step down from his current post.

The remarks are seen as a strong sign that he may step down so he can run for re-election in his Gyeongsan-Cheongdo constituency some 330 kilometers southeast of the capital city. He has represented the region west of Daegu since 2004.

Under South Korea's government system, a lawmaker can hold a Cabinet post without giving up his parliamentary seat. He or she must, however, resign from public office 90 days before elections.

Since the next election is set for April 13, Choi must step down by Jan. 14 at the latest.

There has been speculation that Choi will stay on as finance minister until next year's budget is passed by parliament, then resign so he can return to the ruling Saenuri Party.

Parliament has until Dec. 2 to pass the budget bill, although lawmakers have usually not been able to keep the deadline. (Yonhap)