Choo Kyung-ho: "No Review or Plan for Privatization of Public Enterprises"

Acting Prime Minister Choo Kyung-ho is presenting the supplementary budget proposal at the plenary meeting of the Special Committee on Budget and Accounts at the National Assembly on the 19th. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Seo So-jung] On the 19th, Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho stated regarding the Democratic Party's emphasis on the privatization of public enterprises as a key issue in the June 1 local elections, "Since the new government took office, there has been no consideration or directive to privatize electricity, water, railroads, or airports, and there are no plans to do so in the near future."

At the National Assembly Budget and Accounts Special Committee comprehensive policy inquiry, Deputy Prime Minister Choo responded to a question from People Power Party lawmaker Kwon Myung-ho, saying, "I don't know why this issue suddenly came up."

Choo emphasized, "As someone who can make significant decisions on this matter representing the government, I clearly state that there has been no review or plan to promote privatization at this time."

Democratic Party election committee spokesperson Lee Soo-jin (proportional representation) said in a statement that "Kim Dae-gi, Chief of Staff to the President, expressed on the 17th at the National Assembly Steering Committee full meeting that it would be desirable to sell 30-40% of shares of public enterprises such as Incheon International Airport Corporation and Korea Railroad Corporation to the private sector," and added, "If this is an attempt to create public opinion in favor of privatizing public enterprises, we hope it stops immediately."

In response, Deputy Prime Minister Choo said, "That remark probably came up while quoting a past book by Chief Kim," and added, "Up to now, there has been no consideration of such an issue, and it is not included in my plans to promote it."