President Park Geun-hye's finance minister nominee faces a heavy burden of pushing the government's signature three-year economic innovation plan and other reform efforts needed to strengthen the country's long-term growth potential, which recently is showing signs of slowing down.
Choi Kyoung-hwan, 59, is a third-term lawmaker of the ruling Saenuri Party. He is to replace Hyun Oh-seok, who has served as finance minister for more than a year since President Park took office in February last year. Choi, who will double as deputy prime minister for economic minister, is one of the closest confidantes to the president.