Architect of Moon’s income-led growth scheme to lead KDI

The Korea Development Institute, a state-funded think tank, has appointed the architect behind President Moon Jae-in’s income-led growth policy as its new head.

Hong Jang-pyo was the chief secretary for economic affairs and led the presidential committee on income-led growth in 2018. He was said to have orchestrated policy drafts that were later blamed by Moon’s critics for failing to narrow economic disparities to which they were intended for.

Hong’s three-year term will start May 31.

By Lee Si-jin (sj_lee@heraldcorp.com)