Finance minister nominee vows to overcome economic crisis

SEOUL, Jan. 19 (Yonhap) -- South Korea's next finance minister said Monday that
he will do his utmost to overcome current economic woes and stressed the
importance of cooperation within the government.
Yoon Jeung-hyun, who was tapped by President Lee Myung-bak to replace Kang
Man-soo as South Korea's chief economic policymaker, said that despite the
current difficulties, people must stick together in order to overcome adversity.
"The one thing that people must not lose is hope and courage," he told reporters.
South Korea, which posted 5 percent growth in 2007, is hard pressed to pull off 2
percent gains this year, with many think tanks predicting numbers will fall
further in the face of sluggish domestic consumption and weak exports.
The former head of the Financial Supervisory Committee and the Financial
Supervisory Service under the previous administration added that the most
pressing issue to be discussed at the G20 summit in April is to strengthen
international solidarity to overcome the current financial crisis. He said past
experience in financial policymaking could become an asset when he takes part in
the gathering of industrialized and emerging economies in Britain.
The finance minister-designate, meanwhile, said that while he still has to
undergo a confirmation hearing, once he takes office he plans to take time when
devising and implementing various policies.
"Even if the ultimate goal is good, there is a need to follow due democratic
process and build consensus to win the support of the people," he said.
The present minister had drawn fire for trying to railroad policies, including
extensive tax cuts for the rich and efforts to remove firewalls between
manufacturing companies and financial firms.
Yoon said in the same context that he will try to work out any disagreements
between government ministries and agencies by exchanging views to find a middle
ground.
yonngong@yna.co.kr
(END)