Moon Administration Continues Efforts to Replace Private Sector Hires in the Korean Government

I hope no one is surprised that the Moon administration is busy removing private sector hires from the government and replacing them with bureaucrat allies:

The Gwanfia is back, though it may never have left to begin with.

It seems that more senior bureaucrats than ever are parachuting into top posts at government-controlled institutions since the start of the Moon Jae-in administration.

Gwanfia is a portmanteau of the Korean word gwanryo, meaning “bureaucrat,” and Mafia. 

The latest is the appointment of former Blue House economic chief Yoon Jong-won as the chief executive of the Industrial Bank of Korea (IBK).

Almost all positions filled during the Park Geun-hye administration by executives from the private sector are now held by bureaucrats. 

The heads of three major state-run banks – Korea Development Bank (KDB), Export-Import Bank of Korea (Exim Bank), Industrial Bank of Korea (IBK) – and the leaders of the major financial associations – the General Insurance Association of Korea (GIAK), the Credit Finance Association and the Korea Credit Guarantee Fund (Kodit) – had been selected from the private sector. 

Joong Ang Ilbo

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