[12·4 Cabinet Reshuffle] Choi Sang-mok Nominated as Deputy Prime Minister for Economy... "Macroeconomics and Finance Expert Elite"

Choi Sang-mok, nominee for Deputy Prime Minister for Economic Affairs and Minister of Economy and Finance [Image source=Yonhap News]

President Yoon Suk-yeol on the 4th appointed Choi Sang-mok, the Senior Secretary for Economic Affairs at the Presidential Office, as the new Deputy Prime Minister for Economy and Minister of Economy and Finance.

Appointee Choi Sang-mok was born on June 7, 1963, in Seoul. After graduating from Osan High School, he graduated at the top of his class from Seoul National University’s College of Law. He later earned a Ph.D. in Economics from Cornell University Graduate School in the United States.

He entered Seoul National University Law School in 1982, the same year as Rep. Cho Hae-jin of the People Power Party, Minister of Land, Infrastructure and Transport Won Hee-ryong, and former Rep. Na Kyung-won of the People Power Party. He is three years junior to President Yoon, who entered the law school in 1979.

He began his public service career as the 29th pass of the Administrative Examination at the Ministry of Finance and Economy (now the Ministry of Economy and Finance). At the Ministry of Economy and Finance, he served as Director General of the Policy Coordination Bureau, Director General of the Economic Policy Bureau, and Chief of Staff for the Deputy Prime Minister. At the Financial Services Commission, he oversaw the practical work of the Capital Market Act as a bureau chief.

During the Park Geun-hye administration, he served as the Economic and Financial Secretary to the President at the Blue House and as the First Vice Minister of Economy and Finance. During the Moon Jae-in administration, he remained relatively inactive but served as president of NongHyup University in 2020.

Under the Yoon administration, he contributed to the establishment of new government economic policies from the Presidential Transition Committee as the secretary of the first economic division. At that time, Choi was responsible for policies such as support for small business owners affected by COVID-19, easing real estate loan regulations, and abolishing the stock transfer tax.

Internally, he is evaluated as quick in handling tasks and accurate in judgment. He is especially known for his deep insight into macroeconomics and finance among elite bureaucrats.

△ Seoul, Yongsan △ Osan High School △ Seoul National University, College of Law △ Ph.D. in Economics, Cornell University △ 29th Administrative Examination △ Ministry of Finance and Economy, General Policy Division of Economic Policy Bureau, Director of Financial Policy Division of Financial Policy Bureau △ Secretary General of the Public Fund Management Committee at the Financial Services Commission △ Working Member of the 17th Presidential Transition Committee, Economic Division 1 △ Director General of Policy Coordination Bureau, Director General of Economic Policy Bureau, Policy Advisor to the Deputy Prime Minister at the Ministry of Economy and Finance △ Economic and Financial Secretary at the Presidential Office △ First Vice Minister of Economy and Finance △ President of NongHyup University △ Senior Secretary for Economic Affairs at the Presidential Office

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