Ministry of Finance and Economy Plans to Carry Out Personnel Promotion

It is expected that with Vice Minister of Finance and Economy Kim Gwang-lim hinting at resignation, the Ministry of Finance and Economy (MOFE) and its affiliated organizations’ personnel promotions, including Deputy Minister Bahk Byong-won (who passed the 17th civil service exam), will continue for the time being.

Before Vice Minister Kim expressed his intention to resign, as Kim Yong-duk, Commissioner of the Korea Customs Service (KCS), a MOFE-affiliated organization, was appointed as vice minister of Construction and Transportation, the chief director’s term of the Korea Technology Credit Guarantee Fund (KTCGF) and the Korea Credit Guarantee Fund (KCGF) is scheduled to end at the end of May and June, respectively, it is forecasted that a number of MOFE officials will be promoted or transferred to other posts.

If a government organization law, including the introduction of a dual vice minister system, is passed in the special session of the National Assembly to be held in June, the scale of personnel promotions may become larger.

A high-ranking official of the MOFE said, “Deputy Minister Bahk is a strong candidate to succeed Vice Minister Kim.” Rumor has it that Cheong Wa Dae has already approved Deputy Minister Bahk’s promotion.

After graduating from the law department of Seoul National University, Deputy Minister Bahk began to work in the National Economy Planning Institute (NEPI) (former MOFE) as a public official in 1975. After being appointed chief of the Budget Management Bureau of the NEPI and then a chief of the Economic Policy Bureau of the MOFE, he was named as Deputy Minister of the MOFE in 2003.

It is known that the deputy commissioner of the KCS, Seong Yoon-gap (who passed the 17th civil service exam), chief of the Tax and Customs Office of the MOFE, Lee Jong-gyu (who passed the 17th civil service exam), chief of the Planning and Management Office of the MOFE, Yoon Dae-hee (he passed the 17th civil service exam), and deputy minister for International Affairs of the MOFE, Chin Dong-soo (who passed the 17th civil service exam), are on the candidate list for the position of commissioner of the KCS, a vice minister level post.

It is likely that Kim Gyu-bok (who passed the 15th civil service exam), former chief of the Planning and Management Office of the MOFE, will be named as the chief director of the KCGF. For the post of chief director of the KTCGF, for which the government is currently reviewing candidates, a government official expects that a non-MOFE official will be appointed to this post.

On the promotion list for first-class officials of the MOFE are chief of the Financial Policy Bureau Yim Yeoung-rok (who passed the 20th civil service exam), chief of the Policy Coordination Bureau Yoo Jae-han (who passed the 20th civil service exam), public information officer Kim Kyung-hoh (who passed the 21st civil service exam), and chief of the Economic Policy Bureau Lee Seung-woo (who passed the 22nd civil service exam).

The MOFE plans to carry out its personnel management plans for first-class officials in early June when vice ministerial level personnel placement is scheduled to end.

legman@donga.com