Spreading rumors of Finance Minister Kim Dong-yeon’s resignation

Allegations of dispute between Finance Minister Kim Dong-yeon and presidential chief of staff for policy Chang Ha-sung are spreading as rumors of Kim’s imminent resignation. The presidential office Cheong Wa Dae denied the rumor, saying, “It is not true Finance Minister and Deputy Prime Minister Kim has offered to resign.” However, there are multiple signs that Kim has expressed his intention to step down.

“After a consultative meeting between the ruling party and the government immediately after release of employment data, Kim said that he would I would resign to take responsibility,” a ruling Democratic Party source said on Friday. That is, while Kim and Chang have repeatedly revealed differences in views on the impact of a hiked minimum wage on economic indicators, the finance minister has allegedly offered to resign to take responsibility for “shocking employment data.” Kim did not deny reporters’ question about the rumor over his resignation on the day.

However, presidential spokesman Kim Ui-kyeom said, “Offering to resign will have effect only when it is conveyed to the president who is in charge of personnel affairs, but the president has never received such reporting.”

A comprehensive review of the situation suggests that while Kim has expressed his intention to resign to his acquaintances, but he has yet to clearly express his intention to President Moon Jae-in. For this reason, some in the presidential office said Kim may be seeking to fully take the lead in economic policy. “It is time that energy and wisdom should be joined together to reverse economic indicators, rather than revealing conflict,” a source said in criticizing Kim. “I think Kim is very talented in news media play.”


Sang-Jun Han alwaysj@donga.com