Choi Sang-mok will take on the role of acting economic non-permanent authority

by times news cr

[탄핵 정국]

When Choi passed the impeachment bill against Acting President Han Deok-soo… Acting President and Prime Minister and Deputy Prime Minister in ‘three roles’
“Focus on national security including diplomacy and defense… “It seems difficult to take care of economic issues directly.”

Deputy Prime Minister and Minister of Strategy and Finance Choi Sang-mok is giving a greeting at a meeting with small and medium-sized business people held at the Korea Federation of Small and Medium Businesses in Yeongdeungpo-gu, Seoul on the 26th. Deputy Prime Minister Choi said, “Starting today, we will operate the ‘mid-term express hotline’ to collect on-site difficulties on a regular basis.” Provided by the Ministry of Strategy and Finance

There are growing concerns that if the impeachment bill against Acting President Han Deok-soo passes the National Assembly, we may face an unprecedented ‘economic leadership vacuum’. If Deputy Prime Minister and Minister of Strategy and Finance Choi Sang-mok takes over the role of acting president, it will be difficult to take care of economic issues, which is the deputy prime minister’s unique role.

As the Democratic Party of Korea began the impeachment process against an acting prime minister on the 26th, the possibility of a situation where Deputy Prime Minister Choi takes on ‘three roles’ including the president and acting prime minister is becoming a reality. The Constitution stipulates that if the President is absent or unable to perform his duties due to an accident, he will assume authority in the order prescribed by law. This is because Deputy Prime Minister Choi is next in line after Prime Minister Han.

Many inside and outside the government believe that if Deputy Prime Minister Choi takes over as acting president, he will have to focus on foreign affairs and national defense rather than economic issues. In an unprecedented situation in constitutional history where both the President and the Prime Minister are subject to impeachment proceedings, national security and communication with major allies are the top priorities. Accordingly, First Vice Minister Kim Beom-seok and Second Vice Minister Kim Yun-sang are expected to be responsible for some of the work of the Ministry of Strategy and Finance as the economic command center.

Even if Deputy Prime Minister Choi takes care of economic issues while receiving reports from the two vice ministers, it is expected that his ability to respond to the rapidly changing economic situation will inevitably decline significantly. It may be difficult to maintain the current method of the so-called ‘F4 (Finance 4)’ meeting, the macroeconomic and financial meeting that has been held with Deputy Prime Minister Choi at the center.

While it is unclear whether the economic ministers’ meeting, which has recently announced major economic measures such as a plan to restructure the petrochemical industry, will continue, there are also speculations that the major meeting bodies will lower the rank of attendees to the vice minister level. An official from the Ministry of Strategy and Finance said, “We hope that we will not end up in a situation where the Deputy Prime Minister takes over as acting authority in a situation where there is great uncertainty in the economic sector.”

Sejong = Reporter Kim Do-hyung [email protected]

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