Financier tapped as deputy defense minister amid economic woes

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By Sam Kim
SEOUL, Jan. 22 (Yonhap) -- The decision by President Lee Myung-bak to name a
veteran financier as deputy defense minister signals his resolve to streamline a
government branch with a hefty budget and pull the country out of its economic
slump, experts said Thursday.

The Ministry of National Defense accounts for 10 percent of this year's
284-trillion won (US$206 billion) budget, which the country is trying to quickly
implement to combat the deepening economic crisis.
The decision to appoint Chang Soo-man, head of the national procurement office,
comes as Lee calls for government-wide stimulus efforts. It is also part of a
weeklong reshuffle that led to the replacement of the top finance minister.
"The defense ministry is closed compared to other parts of the government, but
Chang's appointment should help it open up for better cooperation in fighting the
economic doldrums," a finance official, who has long overseen defense budgets,
said by phone. He declined to be named because he was not in a position to speak
to the media.
"Chang has a range of experience, including budget planning in parliament," Jeon
Kyong-mann, deputy chief of the Korea Institute for Defense Analyses, said.
"He'll help streamline the ministry that has a bulky pocket dedicated to
upgrading conventional weapons," Jeon, a specialist in security-business
relations, said.
Chang, 59, helped provide the backbone of President Lee's widely publicized "747"
policy when he ran for office in 2007, campaign experts say. The slogan calls for
achieving 7 percent annual growth, per capita income of $40,000 and the world's
seventh-largest economy.
"The defense ministry has a lot of projects that can be quickly implemented this
year, and Chang could provide the impetus," a defense official said, asking
anonymity.
Chang studied economics at Seoul's Korea University, where Lee majored in
business management. Chang was born in the southeastern port city of Busan, the
country's second-largest city.
samkim@yna.co.kr
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