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President Moon dismisses his two argentiers

President Moon dismisses his two argentiers

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South Korean President Moon Jae-in presents his budget for 2019 to the National Assembly in Seoul on November 1st.
South Korean President Moon Jae-in presents his budget for 2019 to the National Assembly in Seoul on November 1st. Kim Hong-Ji / REUTERS

Double dismissal. Faced with reduced growth, but eager to meet his promises to combat inequalities and jobs, South Korean President Moon Jae-in decided to separate himself from the two financiers of the country.

On Friday 9 November, he replaced Finance Minister Kim Dong-yeon by Hong Nam-ki, who was previously in charge of coordinating government policy with the Prime Minister. Moreover, Kim Su-hyun, presidential secretary for social affairs and environmental affairs, replaces Jang Ha-Sung, architect of the economic administration of the lunar administration.

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This rearranging at the head of the fourth Asian economy follows the continuing differences between MM. Kim and Jang about the economic policy to lead. Jang wanted to continue the policy of increasing revenues to support innovation, consumption and growth. Mr. Kim wanted changes.

The duration of the work has been reduced to 52 hours

"The bickering between the two outgoing men threatened to spread to the entire government and Mr. Moon had no choice but to dismiss them both," An analyst, Choi Jin, told AFP.

"The people worked day and night to build a prosperous country in just half a century and turn it into an economic powerhouse, but the successes achieved were only beneficial for conglomerates," the president said.

President Moon has nonetheless chosen to follow the course and repeated his commitment to a "Fair economy" that would not only benefit the chaebols, the local conglomerates. "In the past people worked day and night to build a prosperous country in just half a century and turn it into an economic superpower, but equality has been lost and the successes have only benefited the conglomerates."said the president, who has always defended the principle of more economic democracy and is confronted with the limitations of the model that contributed to the success of South Korea.

Philippe Mesmer (Tokyo, correspondence)

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