MOEF Shifts to Acting First Vice Minister System to Lead Executive Meetings

# South Korea's Finance Ministry Transitions to Acting Leadership After Deputy Prime Minister's Resignation Sejong — The Ministry of Economy and Finance announced on the 1st that it has shifted to an acting leadership system under First Vice Minister Kim Beom-seok, following the resignation of Choi Sang-mok, the Deputy Prime Minister and Minister of Economy and Finance. According to the Finance Ministry, Kim officially took over as the acting Deputy Prime Minister and Minister of Economy and Finance upon the acceptance of Choi’s resignation earlier that day. Kim Beom-seok will temporarily manage the responsibilities of the Deputy Prime Minister and the Ministry of Economy and Finance. Kim is scheduled to participate in an F4 meeting on the 2nd at 7:30 a.m., followed by leading a senior-level meeting of first-class officials at 9:00 a.m. and an expanded senior officials meeting at 9:30 a.m. Meanwhile, a sub-ministerial price stabilization meeting, initially planned for the morning of the 2nd and to be chaired by the First Vice Minister, has been canceled. Deputy Prime Minister Choi tendered his resignation the same evening, with Acting President and Prime Minister Han Duck-soo promptly accepting it. Consequently, the motion to impeach Choi, which had recently been submitted to the National Assembly, failed to proceed to a vote. sje@yna.co.kr