[The Golden Age of the Ministry of Economy and Finance] ① The 'Ministry of Economy and Finance' Supporting the Yoon Government... A Core in the Third Year of Its Term

'Yongsan, Government, National Assembly' Junction, Ministry of Economy and Finance Alumni
Elite Civil Servants Favored Amid Opposition Majority
Focus on Economy and Livelihood... Side Effects of Personnel Monopoly
First Vice Minister Becomes Minister, Second Vice Minister Goes to National Assembly... Career Advancement Formula

In the third year of the Yoon Suk-yeol administration, a large number of officials from the Ministry of Economy and Finance (MOEF) have been appointed to key positions. It is truly the 'MOEF golden age.' This is interpreted as an intention to showcase results by putting elite bureaucrats strong in economics and planning at the forefront, especially in a situation where the government's control over state affairs has significantly weakened due to the crushing defeat in the April 10 general election. Compared to the Moon Jae-in administration, which labeled economic bureaucrats as deep-rooted evils and excluded them with remarks like "Is this country the MOEF's country?", the phrase 'a complete transformation' is often used. Many in the government circles evaluate this as "appointments based on ability." However, some voices express concern, saying "the checks and balances in the public service will be broken."

The Gateway Between Yongsan↔Government↔Ruling Party is Through MOEF

MOEF alumni occupy core positions in the Presidential Office, government, and ruling party. In the government, Prime Minister Han Duck-soo (passed the 8th Administrative Examination) who is responsible for the cabinet, and Deputy Prime Minister Bang Ki-seon, Director of the Office for Government Policy Coordination (passed the 34th Administrative Examination), are from MOEF. In the ruling party, Floor Leader Choo Kyung-ho (passed the 25th Administrative Examination) is also from MOEF. Park Chun-seop, Chief Economic Secretary of the Presidential Office, who is the head of the economic sector, previously served as MOEF Budget Office Director. The gateway connecting Yongsan, the ruling party, and the government is all lined with MOEF personnel. Even the head of MOEF, Deputy Prime Minister and Minister Choi Sang-mok (passed the 29th Administrative Examination), is connected through senior-junior relationships within the administrative examination alumni.

Non-economic ministries are no exception. The heads of the Presidential Committee on Ageing Society and Population Policy (PCASP) and the Ministry of Health and Welfare, which handle major issues such as population problems and medical reform, are MOEF alumni Vice Chairman Joo Hyung-hwan and Minister Cho Kyu-hong. In the case of PCASP, the Secretary-General, who oversees practical affairs, is also former Director of the Fiscal Management Bureau Choi Han-kyung. MOEF was chosen as the right agency to solve the population and medical reform tasks that President Yoon is putting great effort into.

At the vice-ministerial level, heads of major external agencies such as the Korea Customs Service, Public Procurement Service, and Statistics Korea are MOEF alumni. Ryu Kwang-jun, Director of the Science and Technology Innovation Bureau at the Ministry of Science and ICT (vice-ministerial level), who was promoted earlier this year, is also a 'financial expert' who passed through the MOEF Budget Office. Until recently, the vice ministers of the Ministry of Agriculture, Food and Rural Affairs and the Ministry of Oceans and Fisheries were also from MOEF. In the first ministerial appointments after the general election earlier this month, not only the Chairman of the Financial Services Commission but also the candidate for Minister of Environment were selected from MOEF. It is truly a comprehensive deployment.

MOEF Favoritism... Intention to Deliver 'Economic and Livelihood' Results

Why does President Yoon favor MOEF bureaucrats? First, it is interpreted as a will to focus the government's priorities on the economy and people's livelihood. Especially after the election defeat, with political risks increasing such as the suspicion of First Lady Kim Geon-hee receiving luxury handbags and the opposition party's push for a special prosecutor law on Chae Sang-byeong, it seems to reflect the Presidential Office's intention to turn public opinion around through livelihood recovery.

There is also a purpose to boost the momentum for pushing forward key reform tasks such as 'pensions, labor, and education,' which have been sluggish due to the government being tied up in a minority ruling situation. This is because MOEF oversees and coordinates policies among ministries and is responsible for the budget. Achieving results in reform tasks without MOEF's help is virtually impossible. The Moon Jae-in administration, which excluded MOEF bureaucrats, clashed with MOEF at every turn and eventually replaced the economic line with MOEF bureaucrats such as the Blue House Policy Chief and Chief Economic Secretary to secure state power in the latter half of the term.

Another reason MOEF bureaucrats are favored is their outstanding work ability. Having entered public service by passing the administrative examination with good grades and handling intense work from the early stages as assistant officials, most senior MOEF officials are highly evaluated for their planning skills, judgment, leadership, and confidence. As policies become increasingly complex and coordination among ministries becomes more important, MOEF's role has grown even more.

First Vice Minister Becomes Minister, Second Vice Minister Goes to National Assembly... 'Promotion Formula'

In the public service, it has already become an established formula that 'ace' bureaucrats who have passed through MOEF walk a smooth path.

The first vice minister line is responsible for policy and finance parts, so they often get promoted to ministerial level or take on the role of economic commander. Floor Leader Choo Kyung-ho, Deputy Prime Minister Choi Sang-mok, Vice Chairman Joo Hyung-hwan, Director Bang Ki-seon of the Office for Government Policy Coordination, and Financial Services Commission Chairman candidate Kim Byung-hwan all served as first vice ministers. Usually, many pass through the Presidential Office's Economic and Financial Secretary, and in this administration, candidate Kim Byung-hwan went from first vice minister in Yongsan to the Financial Services Commission, and his successor Kim Beom-seok was recently appointed as first vice minister.

The second vice minister line oversees the budget and is considered the 'most powerful figure' in public service. Many enter politics. In the 22nd National Assembly, Song Eon-seok of the People Power Party and Ahn Do-gul of the Democratic Party, who served as Chairmen of the National Assembly's Planning and Finance Committee, are former second vice ministers. Former second vice minister Kim Yong-jin served as chairman of the National Pension Service after losing in the 21st general election, and former second vice minister Kim Wan-seop, after losing in this general election, was nominated as Minister of Environment, showing that even after losing elections, they are often favored for important positions.