South Korea’s President-elect Yoon Suk Yeol nominated Choo Kyung-ho to be the next finance minister as the leader assembles his economic team to battle accelerating inflation and shore up the economy.
Yoon announced his picks for the finance portfolio and seven other ministerial positions on Sunday. He nominated economics professor Lee Chang-yang as his trade minister and former Joint Chiefs of Staff vice chairman Lee Jong-sup as defense minister.
The nominations come about a month before Yoon succeeds President Moon Jae-in in office, after successfully campaigning on a platform of more pro-market policies and less government intervention in the economy. Yoon had been critical of Moon’s economic policies and their impact on the property market, and plans to reduce taxes that he says have contributed to higher house prices.
Choo, a member of the People’s Party, is a two-term lawmaker who has previously served as as a deputy…