Finance Minister flatly denies plan to privatize public services

Finance Minister Choo Kyung-ho / Yonhap

Finance Minister Choo Kyung-ho flatly denied Thursday the main opposition party's claim that the government was planning to privatize certain public services.

"The privatization of electricity, water supply, railways and airports has not been reviewed under the new government," Choo said during a National Assembly Budgets and Accounts Committee meeting. "I did not order a review."

Choo, who doubles as the deputy prime minister for economic affairs, emphasized that he is in the position in the government to decide on such an issue and that he has no plan to push for the privatization of public services.

Earlier, the main opposition Democratic Party of Korea (DPK) claimed the government was pushing the privatization, claiming that Kim Dae-ki, the presidential chief of staff, revealed a plan to sell shares in public firms to the private sector. (Yonhap)