[Breaking] Blue House reshuffles top economic policymakers

By Bae Hyunjung

Kim Dong-yeon, Jang Ha-sung step down amid stagnant economy

  • Published : Nov 9, 2018 - 14:01
  • Updated : Nov 9, 2018 - 17:22

The presidential office Cheong Wa Dae on Friday replaced the nation’s top two economic policymakers -- Deputy Prime Minister and Finance Minister Kim Dong-yeon and presidential chief of staff for policy Jang Ha-sung -- amid persisting skepticism over the country’s struggling economy.

Presidential Chief of Staff for Policy Jang Ha-sung (left) meets with Deputy Prime Minister and Finance Minister Kim Dong-yeon in August, amid speculations on their discord. (Yonhap)

Minister Kim is to be replaced by Hong Nam-ki, chief of the Office for Government Policy Coordination, while Jang’s post is to be filled by Kim Su-hyun, senior presidential secretary for social affairs, spokesperson Kim Eui-kyeom said in a briefing.

Having served as presidential secretary under the former Roh Moo-hyun administration and the former Park Geun-hye administration, Hong is considered a balanced figure in financial bureaucracy who is apt at policy coordination between government departments, according to the Blue House.

Hong’s current post is expected to be filled by Noh Hyeong-ouk, deputy chief of the Office for Government Policy Coordination.

The possibility of Finance Minister Kim’s replacement had been speculated for months, as Asia’s fourth-largest economy continued to struggle, especially in terms of job indexes.


He also came under fire for his apparent conflict with the Blue House policymaker Jang, which was seen as a setback to President Moon Jae-in’s drive for innovative growth.

Jang, who has been steering Moon’s income-led growth initiative, will be replaced by Kim Su-hyun, a choice which some opposition lawmakers saw as a meaningless gesture as the two have largely been working as a team over the past months.

Kim's position will be filled by Kim Yeon-myung, professor of social welfare at Chung-Ang University.

By Bae Hyun-jung (

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