Lawmaker
Choi Kyung Hwan was nominated to become South Korea��s finance minister
as President Park Geun Hye strives to regain voters�� support and
sustain economic growth.
Choi,
59, will succeed Hyun Oh Seok as finance minister and deputy prime
minister for the economy after he��s vetted by parliament. Choi was
Minister of Knowledge Economy under former President Lee Myung Bak
between 2009 and 2011.
Park
is striving to overhaul the government after the Sewol ferry disaster
sent her approval ratings tumbling and threatened to stall her agenda.
As finance minister, Choi would face challenges from a won trading near
six-year highs against the dollar, weakness in domestic demand and
record household debt.
Choi
is a graduate of Yonsei University and received a Ph.D. in
international economics from the University of Wisconsin. He��s a former
chief economist for the European Bank for Reconstruction and
Development, according to a biography supplied by the finance ministry.
Park
has pledged to increase the nation��s per capita income to near
$40,000, raise the employment rate to 70 percent and boost the potential
economic growth rate to 4 percent.
Source : Bloomberg
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