SEOUL: South Korean President Yoon Suk-yeol on Dec 4 nominated former chief economic advisor Choi Sang-mok (pic) to be the country’s next finance minister, with the incumbent widely expected to step down to run for election.
Choi, who is replacing Choo Kyung-ho, will need to maintain economic momentum ahead of parliamentary elections next April, which will determine the legislative support level for a number of Bills proposed by the government including the ministry's proposal to restrict fiscal spending growth.
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