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Out of nine CEOs and six auditors appointed to state-run financial companies since the launch of the Lee Myung-bak administration, 11 are said to hail from Gyeongsang provinces. Seven out of the nine CEOs appointed by Lee are from Gyeongsang provinces. They are Korea Credit Guarantee Fund CEO Ahn Taek-soo, Woori Financial Group CEO Lee Pal-seung, Woori Bank president Lee Jong-hui, Korea Housing Finance Corporation president Lim Joo-jae, Korea Investment Corporation CEO Chin Young-wook, KOSCOM CEO Jung Yeon-tae who stepped down for ¡°personal reasons,¡± and Korea Securities Depository president-nominee Lee Soo-hwa.
At the Financial Supervisory Service and Korea Exchange, eight out of 13 newly-appointed executives are from Gyeongsang provinces, including FSS Governor Kim Jong-chang and Assistant Governor Lee Jang-yung. The 19 officials appointed to state-run financial companies, the FSS and Korea Exchange are said to be linked to influential officials in the ruling party, either by coming from the same town or alumni ties. In other words, it is no coincidence that the appointees to head state-run financial companies are similar in that regard.
The top positions at state-run agencies under the Ministry of Land, Transport and Maritime Affairs, including the Korea National Housing Corporation, Korea Land Corporation, KORAIL and Korea Research Institute for Human Settlements have gone to officials who either come from Gyeongsang provinces or worked at the Seoul city government when President Lee was mayor. The top positions at state-owned news organizations, including YTN, Skylife, Arirang TV and KOBACO went to those who served as special aides for media relations at Lee¡¯s election office. There also seems to be a drive to find work for former Grand National Party lawmakers, including Ahn Taek-soo, who failed to win the ruling party¡¯s nomination to run for another term or were defeated in the last general election. We are hearing rumors that these ex-lawmakers would be appointed to head the National Health Insurance Corporation, Korea Racing Association and the Korea Mint and Security Printing Corporation.
This administration already has a bad track record when it comes to Cabinet appointments. Lee has lost the support of the public for appointing key Cabinet officials based on alumni, church or hometown connections and for selecting candidates only from the upper tier of Korean society in terms of wealth. Rising consumer prices due to a weak won policy and a mad cow scare the public blames on the government have led to the Lee administration¡¯s approval rating tumbling to below 20 percent. The government could become paralyzed.
Yet the Lee administration continues to make the same mistakes. If it thought the public would not notice the latest appointments, it is pathetic. And if it knew the latest appointments would cause problems but went ahead with them anyway, it is crazy. Governments in countries all over the world appoint to key posts officials who have done a lot for the new leader or share the same vision. But is this the time for the Lee administration to be seen to be dividing the spoils of victory? The government is showing a greedy side at a time when it needs to be extra cautious and to exercise self-restraint to win back the hearts and minds of the public.
The public needs to know whether the latest appointments were based on the instructions of the president, or came from the orders of a powerful politician, or were the result of scheming by high-ranking officials in charge of government appointments. At this rate, the public will completely lose faith in the Lee administration.
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