On Wednesday Cheong Wa Dae essentially decided to keep Deputy Prime Minister of Finance and Economy Lee Hun Jai in his position despite the major controversy resulting from suspicions he engaged in speculative real estate investment. "The economy is showing signs of recovery in what is a difficult situation, one in which various important economic policies will have to be implemented," said a spokesman. "Right now is a time when consistency in economic policy is very necessary." There is a lot that is problematic about Cheong Wa Dae's attitude. Primarily you wonder what the principles are when it comes to policy and members of cabinet.
President Roh Moo Hyun has on many an occasion said he will do whatever it takes to get speculative real estate investment under control. That means he has given it the highest priority. People and policy will be in conflict, however, if the man in charge of that policy is himself suspected of speculation. How can anti-speculation policy be properly carried out and the general public take that policy at face value? The words of the president might even start sounding empty. It will also be hard for Cheong Wa Dae to maintain the consistency of policy it has been talking about. Consistency of policy means not just consistency over time but behavior that is consistent with that policy on the part of those in charge of it, something that must be demonstrated for it be possible for policy to be carried out. Cheong Wa Dae talks as if it knew of Lee's suspicious behavior before he was chosen from the job, and that is as simpleminded an approach to the reality of the situation as can be. It is only natural that you hear suggestions that there is a gaping hole in its staff management procedures.
It is not that one cannot understand Cheong Wa Dae's agony, because changing the country's economic leader at a time when there have been signs since the beginning of the new year that the economy is working its way out stagnation could have a negative effect. The possibility a change could lead to confusion in the area of policy cannot be ignored. Still, one wonders if there is really much more to gain from keeping Lee on board than if he is replaced, more so when you consider that there is a growing outcry about suspicions he wanted to reduce real estate transfer taxes.
The Hankyoreh, 3 March 2005.
[Translations by Seoul Selection (PMS)]
Keeping Lee Hun Jai |
