SEOUL: South Korea needs to take measures to support its economy in the short term as it continues tariff talks with the US, its likely new finance minister Koo Yun-cheol said on Sunday after being nominated for the role by President Lee Jae Myung. Koo, a former vice-finance minister, still needs to go through parliament hearings before being confirmed as finance minister.
Other ministerial appointments were also announced by the president's office on Sunday. "We need to take pre-emptive measures and prepare for situations such as the current tariff negotiations with the United States," Koo told a press conference.
Among other ministerial positions, Kim Jung-kwan, president of power plant builder Doosan Enerbility and a veteran bureaucrat in economics, energy and public policy, was nominated to be industry minister. The former head of South Korea's disease control agency, Jeong Eun-kyeong, was nominated for health minister. She was highly praised for her response to the Covid-19 pandemic, becoming one of Time Magazine's 100 most influential people of 2020. — Reuters
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