South Korea's trade minister nominee aims to boost corporate sector

South Korea’s trade minister nominee Lee Chang-yang has vowed regulatory reforms to boost the corporate sector. Lee, a professor of economics and public policy at Korea Advanced Institute of Science and Technology, has been leading one of the seven subcommittees under the presidential transition committee of President-elect Yoon Seok-yeol since March, overseeing policy direction in the field of trade, ministry, and energy. Yoon said that with a deep knowledge and vast hands-on experience, Lee is the right fit for the new cabinet to map out a breakthrough in domestic industry and overcome the slow economic growth of South Korea. Prior to his nomination, Lee has advised the government sector including the Trade Ministry and the Financial Services Commission, as well as private-sector companies. Lee is also likely to be tasked with discontinuing the Moon Jae-in administration’s nuclear power phase-out policy.