Kang Giryong Appointed Deputy Minister, Yoo Sooyoung Named Spokesperson in First Senior-Level Appointments of New Administration at Finance Ministry

Kang Giryong, New Deputy Minister (Source: Ministry of Economy and Finance)

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The Ministry of Economy and Finance announced on November 3 that it has appointed Kang Giryong, Director-General of Policy Coordination, as the new Deputy Minister, along with personnel changes for four first-grade director-level positions.

Kang Giryong, Director-General of Policy Coordination, was promoted to Deputy Minister. Hwang Soonkwan, Director-General of the Treasury Bureau, was promoted to Director-General for Planning and Coordination. Yoo Sooyoung, Director-General of the Future Strategy Bureau, was promoted to Spokesperson. Kang Youngkyu, who previously served as Spokesperson, was appointed as Director-General for Fiscal Management. Yoo Byungseo, Director-General for Budget, Park Geumcheol, Director-General for Tax Policy, and Choi Jiyeong, Director-General for International Economic Affairs, will remain in their current posts.

Kang, the new Deputy Minister (39th National Civil Service Exam), graduated from Seoul National University with a degree in Business Administration. He holds a Master’s in Public Policy from the KDI School of Public Policy and Management and a Master’s in International Development Policy from Duke University in the United States.

He is regarded as an expert in economic policy, having served as Director-General of Policy Coordination, Director-General for Economic Structural Reform, Director of Policy Planning, Director of Planning and Coordination at Statistics Korea, and Director for Policy Coordination. He is recognized for his broad insight into the overall economy and his ability to coordinate policy.

Hwang, the new Director-General for Planning and Coordination (39th National Civil Service Exam), graduated from Korea University with a degree in Public Administration and earned a Master’s in Trade from Hansung University and a Ph.D. in International Economics. At the Ministry, he has held positions including Director-General of the Treasury Bureau, Director for Economic Budget Review, Director for Welfare and Safety Budget Review, Inspector General, Director for Public Policy Coordination, and Director for Education Budget.

Yoo, the new Spokesperson (39th National Civil Service Exam), has served as Director for Administrative and Defense Budget Review, Director of Planning and Coordination at the Saemangeum Development Agency, Director for Future Strategy, Director for Price Policy, Director for International Organizations, and as Public Relations Officer.

Kang, the new Director-General for Fiscal Management (39th National Civil Service Exam), graduated from Yonsei University with a degree in Business Administration and received an MBA from Thunderbird School of Global Management in the United States. He has held key positions in the Budget Office, including Director for Agriculture, Forestry and Maritime Budget, Director for Employment and Environment Budget, and Director for Budget Management. He also served as Director for Fiscal Soundness Review and Director-General for Public Policy before working as Spokesperson for one year and three months from August of last year.

Except for Kang, who made a lateral move to another first-grade position, the other three were promoted from director (second-grade) to director-general (first-grade).

Yoo, Director-General for Budget, and Park, Director-General for Tax Policy, who are preparing for National Assembly reviews of the budget and tax reform bills, and Choi, Director-General for International Economic Affairs, who is involved in working-level Korea-U.S. customs negotiations, will remain in their posts to ensure continuity of work.

This is the first round of first-grade appointments since the launch of the Lee Jaemyung administration and the inauguration of Deputy Prime Minister and Minister of Economy and Finance Koo Yooncheol. Typically, after a new government is launched, ministers and vice ministers are appointed to align with the new administration’s policy direction, followed by first-grade appointments. All seven first-grade officials submitted their resignations in September following the change of administration, as is customary, but the personnel appointments were delayed for several months due to the lengthy vetting and approval process by the presidential office.

The Ministry of Economy and Finance is preparing for an organizational restructuring that will split it into the Ministry of Planning and Budget and the Ministry of Finance and Economy as of January 2 next year. The timing of the personnel changes, coinciding with the division into two organizations, the Korea-U.S. customs negotiations, and the Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju, is believed to have affected the overall personnel arrangements, including the selection of successors.

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