New financial and broadcasting watchdog heads, environment minister named in Cabinet reshuffle

Politics

Published: 04 Jul. 2024, 18:32

New financial and broadcasting watchdog heads, environment minister named in Cabinet reshuffle

The nominees for three ministerial posts, including Kim Wan-sup, the nominee for environment minister, far left, Lee Jin-sook, the nominee for the chairman of the Korea Communications Commission, and Kim Byoung-hwan, the nominee for the chairman of the Financial Services Commission, attend a press briefing at the presidential office in Seoul on Thursday. [YONHAP]

President Yoon Suk Yeol nominated a new chief financial regulator and two other ministerial posts for environment and broadcasting in a partial Cabinet reshuffle Thursday.

Kim Byoung-hwan, who was the first vice minister of economy and finance, was nominated as chairman of the Financial Services Commission.

Chung Jin-suk, President Yoon Suk Yeol's chief of staff, described Kim as "a veteran official in financial and macroeconomic policies," praising him as the right person to "advance the financial industry and stabilize financial markets" during a briefing on the appointments at the Yongsan Presidential Office on Thursday.

"Risks remain in the financial market, particularly concerning real estate project financing," Kim told reporters addressing financial issues for the second half of the year. "This issue has been handled step by step with a soft landing approach since the first half of last year."

Lee Jin-sook, a former journalist and president of MBC's Daejeon station, was nominated as the new head of the Korea Communications Commission. Her career includes roles as a reporter in the social, international and culture departments at MBC and as a Washington correspondent.

"Lee demonstrated her capabilities as the first female war correspondent during the Iraq War," noted Chung. "With her experience and drive, she is the right person to normalize operations at the Korea Communications Commission, ensure media fairness and public trust, and restore public confidence in broadcasting."

The nomination for the new state broadcasting watchdog chief came shortly after the voluntary resignation of the previous chief just two days ago, signaling the administration's intent to drive public media reform and restructure public broadcasting boards.

Following her nomination, Lee addressed reporters, criticizing "fake news" and highlighting issues such as Yoon's hot mic report and allegations of a late-night binge drinking session with then-Justice Minister Han Dong-hoon at a luxury bar in Cheongdam-dong.

"The press, often called the air we breathe, is now sometimes referred to as a weapon," she said.

Lee pledged to address the influence of labor unions on public media, stating, "The press must be independent of all forms of power, including labor power."

Kim Wan-sup, a former second vice minister of economy and finance, was named the new environment minister.

Kim served in various budgeting and policy roles.

"Kim is a veteran official in budget and policy," Chung said. "He has a high understanding of national governance, having overseen budget planning twice under the Yoon administration.

"With the growing impact of environmental issues like climate change on the economy, we expect him to implement balanced policies with a broad perspective," Chung said.

When asked about climate policy, Kim said, "Rather than expressing my views now, I will listen to experts and the public to develop policies through communication."

In addition to the three minister-level nominations, Yoon also announced appointments for six vice-minister-level positions.

This includes Yeon Won-jeong as the head of the Ministry of Personnel Management; Kim Beom-seok as the first vice minister of economy and finance; Park Beom-su as the vice minister of agriculture, food and rural affairs; Kwon Jae-han as the head of the Rural Development Administration; Lim Sang-seop as the head of the Korea Forest Service; and Kim Jae-hong as the director of the National Museum of Korea.

BY SEO JI-EUN [seo.jieun1@joongang.co.kr]