S. Korea’s Yoon chooses veteran technocrat to spearhead economy ahead of election

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.