According to Yonhap, South Korean Vice Prime Minister and Minister of Finance and Economy, Goo Ran-chul, initially decided to cancel his trip to the United States to attend the G20 finance ministers and central bank governors' meeting on the 30th, but ultimately went abroad as planned.
According to reports, Gu Runzhe arrived at Incheon International Airport in the morning of that day. He originally planned to travel to Ashville, North Carolina, USA to attend the G20 Finance Ministers’ Meeting. However, he learned that he was among the candidates for replacement in the cabinet restructuring, and he decided to cancel his trip. The bilateral talks scheduled with US Treasury Secretary Bessen and other key officials also faced cancellation.
Koo Jun-cheol - Photo. Yonhap News Agency
On that day, South Korean President Li Zemin nominated candidates for six department heads. Among them, Lee Kyung-min, the first deputy minister of the Ministry of Finance and Economy, was nominated as a candidate for Deputy Prime Minister and Minister of Finance and Economy.
According to reports, Li Jiongri held several key positions in economic policy. During the period when the situation in the Middle East led to high oil prices, he led the introduction of a maximum price control system for oil, demonstrating his ability to implement policies.
However, after the announcement of the new deputy prime minister and finance minister candidate, they will still have to go through procedures such as congressional hearings before taking office officially. Until then, Ju Ryeon-chul will continue to serve in his role. Additionally, considering that canceling meetings with the US Treasury Secretary might be detrimental to South Korea's national interests, Ju Ryeon-chul decided to travel to the United States as originally planned.
