South Korean President-elect Yoon Seok Yeol has nominated a centrist former prime minister to lead his government as the former prosecutor seeks help to “navigate” the country’s polarized politics, according to Bloomberg.
Han Dak-soo, 72, is recognized by all political parties for his experience and know-how and has held key positions in government, Yoon said in a statement on Sunday. Khan was prime minister from 2007 to 2008 under former Progressive President Roh Moo-hyun before serving as ambassador to the United States under Conservative Lee Myung-bak.
The decision to use a veteran politician with work experience on both sides of the South Korean party divide suggests that Yoon is trying to overcome doubts about his ability to deliver. The former attorney general has never been elected to office and won by a narrow margin in his history after joining the conservative People’s Power Party to run against the party of his former boss, outgoing President Moon Jae-in.
“There is a need to strengthen diplomacy in the interest of the country and to strengthen national defense,” Hahn told a YTN news conference on Sunday. “The government must also address the medium- and long-term risks that may arise from the persistent use of expansionary fiscal policy.”
The government should maintain a certain level of surplus in South Korea’s international balance of payments and should boost production through education and financial reform, he said. Geopolitical risks, including in Ukraine and North Korea, along with household debt and aging society were among the risks facing the country, Khan said.
Moon’s Democratic Party will hold a majority in the National Assembly at least until the next 2024 elections, posing a major obstacle to any legislative initiatives. Yoon has promised a sharp break with the current government’s policies, including a more market-based economic agenda and a tougher approach to North Korea.
The incoming president has pledged greater cooperation with South Korea’s closest ally, the United States, including participating in President Joe Biden’s initiatives to support supply chains between like-minded nations.
Khan, who earned a doctorate in economics from Harvard University after studying at Seoul National University, led the negotiations on South Korea’s free trade agreement with the United States under President Roh. He was also in charge of Seoul talks with Pyongyang in 2007, when the two sides discussed the details of a huge aid package to rebuild poor infrastructure north of the demilitarized zone.
Source: Capital

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