Choi Sangmok Delivers Farewell Address as Former Deputy Prime Minister on the Morning of the 7th
"Dynamic Economy and Breaking Away from Debt Dependency Are Achievements"
Regrets Include "Response to Tariff Shocks and Tax Revenue Errors"
Choi Sangmok, Deputy Prime Minister for Economy and Minister of Economy and Finance, is presenting a proposal at the Budget and Accounts Special Committee held at the National Assembly on the 28th. The meeting conducts a comprehensive policy inquiry to review the supplementary budget of 12.2 trillion won submitted by the government. April 28, 2025 Photo by Kim Hyunmin
Former Deputy Prime Minister for Economy and Minister of Economy and Finance Choi Sangmok stated in his farewell address on the 7th, "Public officials who are faithfully performing their duties should not be shaken by external forces."
On this day, at around 9:40 a.m., Choi posted a message titled "Dear Family of the Ministry of Economy and Finance" on the ministry's internal communication platform, Gonggam Sotong, and made this statement. He began his message by saying, "I am also surprised and saddened to be saying goodbye to you all so suddenly," and added, "During the holidays, I kept writing and erasing my message in front of my laptop monitor, so my farewell is belated."
In his farewell address, Choi repeatedly emphasized the role of the executive branch amid the current turbulent political situation. He said, "I began my public service career with expectations for the role of the executive branch, and even as I leave now, I feel the same," adding, "The mission that the people have entrusted to public officials in the executive branch is to prioritize the sustainability of our national community by excluding short-term, populist decisions through long-term national visions and scientific analysis, and to present practical alternatives for coexistence by mediating conflicts between various sectors and generations."
Choi continued, "For you not to be swayed, you need the strength to uphold your convictions," explaining, "That strength comes from the pride that each and every one of you is a servant of the entire nation and a public official responsible to the people, as stipulated in Article 7, Paragraph 1 of the Constitution." He went on to urge, "I hope that you will strengthen your convictions and pride as public officials, especially in difficult times."
Choi also mentioned achievements during his term. He said, "Thanks to all of you who quietly carried out your duties in your respective positions despite the grave internal and external conditions, we were able to achieve results such as overcoming complex crises, breaking away from debt dependency, and expanding welfare for the vulnerable." He added, "At the same time, together with you, I dreamed of changes such as a dynamic economy where innovation and mobility create a virtuous cycle, a Ministry of Economy and Finance that is a problem-solver and genuinely engaged in the field, innovation in working methods with timeliness, leading a culture of work-life balance, and T-shaped position management."
Regarding the martial law situation during former President Yoon Sukyeol's administration, Choi said, "During the 88 days as acting president, I felt reassured and grateful that, with your help, we were able to get through an unfortunate chapter in our constitutional history together." He encouraged, "The people will remember how, in an unprecedentedly tense situation, you fought day by day for national administration and livelihood stability, disaster response, and the defense of national credibility."
Choi also expressed regrets about certain shortcomings. He pointed out, "As the side effects of the complex crisis turned out to be more severe than expected, the recovery of domestic demand has been delayed, and tariff shocks are exacerbating the difficulties faced by the public." He also noted, "Errors in tax revenue estimates continued as the abnormal excess tax revenue during 2021-2022, caused by an overheated asset market, was misinterpreted as a trend change."
He went on to say, "While welfare functions should be expanded, revitalizing the economy centered on the private sector is a task that requires structural reform and time, but it remains unfinished." He apologized, saying, "I feel heavy-hearted and sorry to the people for leaving behind so many unresolved tasks for the Ministry of Economy and Finance to address amid the severe internal and external economic conditions."
On May 2, at around 10:30 p.m., after an impeachment motion against him was submitted to the National Assembly's plenary session led by the Democratic Party of Korea, Choi expressed his intention to resign to Han Ducksoo, who was then serving as acting president.
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