President Moon plots his two argentiers

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South Korean President Moon Jae-in presents her budget for 2019 at the National Assembly in Seoul on November 1st.
South Korean President Moon Jae-in presents her budget for 2019 at the National Assembly in Seoul on November 1st. Kim Hong-Ji / REUTERS

Double dismissal. Faced with reduced growth but eager to meet the commitments made to combat inequality and occupation, South Korea's president Moon Jae-in decided to separate from the two financiers of the country.

On Friday, November 9th he replaced Finance Minister Kim Dong-yeon with Hong Nam-ki, previously responsible for coordinating government policies with the prime minister. In addition, Kim Su-hyun, presidential secretary for social affairs and specialist in environmental matters, replaces Jang Ha-sung, architect of the economic policy of the administration of the Moon.

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This remixing at the head of the fourth Asian economy follows the persistent differences between MM. Kim and Jang on economic policy to drive. Jang wanted to continue the policy of increasing revenues to support innovation, consumption and growth. Mr. Kim wanted changes.

The duration of the work was reduced to 52 hours

"The bickering between the two outgoing men threatened to spread throughout the entire government and Mr. Moon had no choice but to dismiss them both" An analyst, Choi Jin, told AFP.

"People worked day and night to build a prosperous country in just half a century and turn it into an economic power, but the joint achievements only benefited only conglomerates," said the president.

However, President Moon has chosen to remain in the course, reaffirming his commitment to "Fair economy" this would not only benefit the chaebols, the local conglomerates. "In the past, people worked day and night to build a prosperous country in just half a century and turn it into an economic power, but equity was lost, the successes achieved jointly benefited the conglomerates"said the president, who has always defended the principle of greater economic democracy and faces the limitations of the model that has contributed to South Korea's success.

Philippe Mesmer (Tokyo, correspondence)

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