Settings

ⓕ font-size

  • -2
  • -1
  • 0
  • +1
  • +2

Finance minister's unprecedented presidential role comes to end

  • Facebook share button
  • Twitter share button
  • Kakao share button
  • Mail share button
  • Link share button
Acting President and Prime Minister Han Duck-soo, right, shakes hands with Minister of Economy and Finance Choi Sang-mok during a Cabinet meeting at  Government Complex Seoul, Monday. Han was reinstated to his position following the Constitutional Court's ruling to dismiss an impeachment motion against him. Yonhap

Acting President and Prime Minister Han Duck-soo, right, shakes hands with Minister of Economy and Finance Choi Sang-mok during a Cabinet meeting at Government Complex Seoul, Monday. Han was reinstated to his position following the Constitutional Court's ruling to dismiss an impeachment motion against him. Yonhap

By Yi Whan-woo

Minister of Economy and Finance Choi Sang-mok was relieved of the burden of serving as acting president on Monday, nearly three months after he took the job in the wake of the National Assembly's motions to impeach President Yoon Suk Yeol and Prime Minister Han Duck-soo.

Earlier in the day, the Constitutional Court dismissed the impeachment motion against Han, reinstating him as prime minister and acting president in the latest twist in months of political turmoil triggered by Yoon's ill-fated martial law declaration on Dec. 3.

The ruling freed Choi, also the deputy prime minister, from his role as the interim leader of the Cabinet.

Yoon still awaits the court's decision over whether to uphold or dismiss the Assembly's motion to impeach him.

Choi ran state affairs since Dec. 27 when Han was impeached, going on a rollercoaster ride as he dealt with an extensive range of political, diplomatic, social and economic affairs.

"He arduously served four roles, which was possibly unprecedented for any Korean bureaucrat," a finance ministry official said on condition of anonymity.

The official referred to Choi being responsible for his own role as the country's top economic policymaker, while handling duties concerning Yoon and Han, as well as serving as the head of disaster and safety measures.

He oversaw emergency responses for multiple disasters, including the deadly crash of a Jeju Air plane in southwestern Korea in late December and wildfires last week that killed four and forced thousands to evacuate in the southeastern part of the country.

With regard to politics, Choi consistently faced calls from the main opposition Democratic Party of Korea (DPK) to appoint the ninth and last remaining judge to the Constitutional Court.

But Choi decided not to do so, as the rallies from both Yoon's supporters and opponents grew tense and the opposition-dominated National Assembly repeatedly threatened to impeach him.

With regard to U.S. President Donald Trump's tariff policies, Choi sought to come up with a fresh trade strategy and supportive measures for Korean companies.

For small and medium-sized enterprises, he promised to "actively support" them to ensure external risks do not deal a blow to them.

His multiple responsibilities prompted concerns over Korea's leadership vacuum on the global financial stage, as he missed this year's first meeting of finance ministers and central bank governors from Group of 20 member nations in February.

Another finance ministry official said he should be "given credit for dealing with pending economic issues," such as a tax code revision on inheritance and reform of the national pension system.

Yi Whan-woo yistory@koreatimes.co.kr


X
CLOSE

Top 10 Stories

go top LETTER