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(LEAD) Moon to replace finance minister as early as this week

All Headlines 23:25 November 08, 2018

(ATTN: ADDS photo)

SEOUL, Nov. 8 (Yonhap) -- President Moon Jae-in plans to replace his finance minister as early as this week, an official familiar with the issue said Thursday.

The announcement on replacing Finance Minister Kim Dong-yeon could be made before Moon leaves for Singapore on Nov. 13 for annual summits with Southeast Asian and other regional partners, the official said.

Finance Minister Kim Dong-yeon answers a lawmaker's question in a parliamentary budget committee on Nov. 8, 2018. (Yonhap)

Moon will visit Papua New Guinea on Nov. 17 and 18 for a meeting of Asia-Pacific Economic Cooperation forum.

Hong Nam-ki, chief of the Office for Government Policy Coordination, is tipped as a favorite to succeed Kim.

The move comes after Kim displayed sharp differences with Jang Ha-sung, presidential chief of staff for policy, over how to handle Asia's fourth-largest economy, with Kim voicing a need to alter the existing "income-driven" growth policy and Jang insisting on sticking to a distribution-centered policy.


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