Veteran economic technocrat to lead Korea's economic, financial affairs

Choi Sang-mok, the nominee for the new finance minister, greets reporters at the presidential office in Seoul, Dec. 4. Yonhap

Finance Minister nominee Choi Sang-mok is a seasoned economic technocrat who is specialized in devising macroeconomic policies and handling financial affairs.

Choi, former senior presidential secretary for economic affairs, was named the minister of finance and economy Monday and will double as deputy prime minister for the economy to replace Choo Kyung-ho.

Choi, 60, majored in law at Seoul National University and passed the civil service exam in 1986. He received a master's degree from Cornell University in 1996.

The nominee had served in various capacities at the finance ministry since 1987, playing a leading role in the enactment of the country's capital market integration act and drawing up longer-term economic strategies.

He worked at the presidential office from 2014-2016 under the then Park Geun-hye administration and served as the first vice finance minister for the following two years.

After spending years away from government service under the former Moon Jae-in government, he served as the president of the Agricultural Cooperative University from 2020 until 2022, when he joined Yoon's transition team.

In May 2022, Choi was picked as Yoon's first senior presidential secretary for economic affairs and served in the post through November. (Yonhap)