Double dismissal. Confronted with reduced growth but anxious to respect its commitments to fight against inequalities and for employment, South Korean President Moon Jae-in decided to separate from the country's two funders.
On Friday, November 9, he replaced Finance Minister Kim Dong-yeon with Hong Nam-ki, previously in charge of coordinating government policies with the prime minister. In addition, Kim Su-hyun, presidential secretary for social affairs and environmental affairs specialist, replaces Jang Ha-sung, architect of the economic policy of the Moon administration.
This reshuffling at the head of the fourth Asian economy follows the persistent differences between MM. Kim and Jang on the economic policy to lead. Jang wanted to continue the policy of increasing revenues to support innovation, consumption and growth. Mr. Kim wanted changes.
The duration of work reduced to 52 hours
"The bickering between the two outgoing men threatened to spread to the whole government and Mr. Moon had no choice but to sack them both," An analyst, Choi Jin, told AFP.
"The people have worked day and night to build a prosperous country in just half a century and make it an economic powerhouse. But the successes achieved jointly benefited only conglomerates, "said the president.
President Moon has nevertheless chosen to stay the course, reiterating his commitment to a "Fair economy" that would not only benefit chaebols, the local conglomerates. "In the past, people worked day and night to build a prosperous country in just half a century and make it an economic powerhouse. But equity has been lost. The successes achieved jointly benefited conglomerates only »said the president, who has always defended the principle of more economic democracy and faces the limitations of the model that contributed to the success of South Korea.