Trade minister candidate pledges regulatory reform

Lee Chang Yang (Yonhap)

Lee Chang-yang, a professor of economics and public policy at the Korea Advanced Institute of Science and Technology, pledged regulatory reforms to boost the business sector as he was introduced by President-elect Yoon Seok- yeol as Minister of Commerce.

The 60-year-old bureaucrat-turned-professor is likely to be tasked with ending the Moon Jae-in administration’s nuclear power phase-out policy and managing the rise of protectionism in the global trade landscape, as well as deregulation of national industry. .

“With deep knowledge and extensive practical experience, Lee is the ideal person for the new Cabinet to chart a breakthrough in domestic industry and overcome Korea’s slow economic growth,” Yoon told reporters during a briefing. release announcing the eight new Cabinet nominees.

Lee has headed one of seven subcommittees of Yoon’s presidential transition committee since March, overseeing policy direction in the areas of trade, ministry and energy.

Prior to this role, Lee advised the government sector, including the Department of Commerce and the Financial Services Commission, as well as private sector companies. Lee is a tenured external board member of LG Display to oversee the display panel maker’s environmental, social and governance criteria and performance. He was also a board member of memory chip maker SK hynix from 2012 to 2018.

Lee spent 15 years as a bureaucrat beginning in 1985 at the Ministry of Industry, while serving two years in the Joint Presidential Committee on Economic Policies of the former Kim Dae-jung administration as a senior official in charge of the shaping corporate restructuring policies during the Asian financial crisis. in the late 1990s. Lee became a professor at KAIST in 2000. His areas of research have revolved around innovation economics and industrial and technology policy.

Born in Goseong County, South Gyeongsang Province, Lee holds a bachelor’s degree from Seoul National University and master’s and doctoral degrees from Harvard University.

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