President-elect Yoon Likely to Announce First Prime Minister on the 3rd... Leading Candidates Include Han Duck-soo and Im Jong-ryong

In-Person Verification Between Today and the Weekend

President-elect Yoon Suk-yeol is entering the 20th Presidential Transition Committee set up at the Financial Supervisory Service Training Institute in Tongui-dong, Jongno-gu, Seoul, on the morning of the 1st. Photo by Transition Committee Press Corps

[Asia Economy Reporter Jeong Dong-hoon] President-elect Yoon Seok-yeol is set to begin the full-scale formation of his cabinet, starting as early as the 3rd with the announcement of the first prime minister nominee of the new administration.

According to the Presidential Transition Committee on the 1st, President-elect Yoon has narrowed down the prime minister candidates to four and is expected to announce the nominee as early as this weekend. The president-elect plans to meet with the candidates on the 1st and 2nd.

The Yoon camp stated, "The president-elect is thoroughly gathering opinions from various sectors and the time to make a decision is approaching," adding, "Although we cannot specify the exact timing of the announcement, he will meet all four candidates before making the announcement."

Among the prime minister candidates, former Prime Minister Han Duck-soo and former Financial Services Commission Chairman Lim Jong-ryong are known to be strong contenders. Both share the common background of being from Honam and economic bureaucrats. Following President-elect Yoon's emphasis on an 'economic dream team,' the announcement of the prime minister nominee is expected to influence cabinet appointments such as the Deputy Prime Minister for Economy and the Financial Services Commission Chairman.

In a phone interview with Asia Economy, former Prime Minister Han was reserved about the prime minister nomination. However, he expressed his stance on the new government's policy direction to overcome COVID-19, particularly emphasizing the need for supplementary budgets. Han stated, "In principle, even if it places a short-term burden on the budget, necessary costs for COVID-19 support and response should be made," adding, "However, fiscal soundness should be kept in mind in the mid to long term." This highlights the next government's focus on expenditure restructuring.

On the same day, President-elect Yoon met with the Gulf Cooperation Council ambassadors to South Korea in the afternoon and will attend the 74th anniversary memorial ceremony for the Jeju 4·3 victims on the 3rd.

This content was produced with the assistance of AI translation services.