KDI Elders Oppose Appointment of Director Hong Jang-pyo

Former Chairman Hong Jang-pyo of the Special Committee on Income-Led Growth. / Photo by Moon Ho-nam munonam@

[Sejong=Asia Economy Reporter Moon Chaeseok] Senior scholars from the Korea Development Institute (KDI) have issued a statement opposing the appointment of former Special Committee on Income-Led Growth Chairman Hong Jang-pyo as KDI president. They described him as a "designer of disastrous economic policies."

Nineteen scholars from KDI, including former Minister of Health and Welfare Choi Kwang, announced on the 29th through a joint statement that they "oppose the appointment of the proponent of the income-led growth policy as KDI president."

They stated, "The individual in question is someone who destroyed the economy with unprecedented policies and plunged people's livelihoods into hardship, lacking fundamental economic insight," adding, "The mere suggestion of a designer of disastrous economic policies as the head of KDI is an act of mocking and disregarding the public."

They continued, "At this critical time, KDI must become a cradle for a major shift in economic policy that the nation needs," and added, "We hope that a respected top economic expert, who would not hesitate to be reappointed by the next administration, will be appointed as president."

Along with former Minister Choi, the statement was also issued by Kang Jeong-mo, Professor Emeritus at Kyung Hee University, Kim Nak-nyeon, Professor of Economics at Dongguk University, Yoo Jeong-ho, former KDI Vice President, and Jwa Seung-hee, former President of the Korea Economic Research Institute.

Former Chairman Hong served as the first economic chief under the Moon Jae-in administration and later chaired the Presidential Committee on Income-Led Growth. He is recognized as the architect of income-led growth policies, including the rapid increase of the minimum wage.

KDI is currently recruiting candidates for its 16th president. Three candidates have been selected: former Chairman Hong, Ahn Sang-hoon, Director of the KDI International Development Cooperation Center, and Woo Cheon-sik, Senior Research Fellow at KDI. Among them, former Chairman Hong is considered the most likely candidate.

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