Elon Musk’s DOGE Gimmicks Have No Place In South Korea

New South Korean President Lee Jae Myung chose a finance minister who wants to run Asia’s fourth largest economy.

Finance Minister nominee Koo Yun-Cheol vowed to manage the national economy with a sharp focus on return on investment and making public spending more productive. As Koo explains: “Korea must pursue real growth, which requires basic overhaul. We have to be economic and economic like “Korean companies” and the people are our shareholders.”

As I read these words, I can’t help but think of Elon Musk’s failure as part of the Donald Trump 2.0 presidency in the case of the spectacular failure of the U.S. government efficiency department or Doge.

To be sure, Koo seems to be a keen and worthy candidate in charge of the Treasury. Before serving as current professor of economics at Seoul National University, Koo was an experienced finance bureaucrat. And, there is little hope for Koo to appear at work, musk-style, black t-shirts, baseball caps and chainsaws to happily fire workers and chop government agencies.

However, there are many shortcomings in opening up enterprises by senior economic officials in South Korea.

Obviously, this idea should run a democratic country like a business, and proved wrong at almost every turn. Trump’s first and now his second president proves the dangers of government grouping.

Didn’t Thailand try it out from 2001 to 2006 when billionaires transformed into Prime-Minister Thaksin Shinawatra? Is it difficult to learn this lesson with Silvio Berlusconi? What about South Korea in 2008?

Ten years ago, Australians turned to Goldman Wings to national leader Malcolm Turnbull. 244 days later, Australian The newspaper conducted a criticism that was not satisfied with millions of voters with his leadership, titled: “Malcolm Turnbull is the Australian Prime Minister, not the CEO.”

In the years before that, the United States caught a glimpse of the MBA presidency during George W. Bush. The Bush administration is full of former chiefs, including Dick Cheney and Donald Rumsfeld. Between the catastrophic Iraqi invasion and the subqi crisis, it was an era that too many Americans were trying to forget.

Enter President Lee Mengmeng’s new administration in Seoul. As we all know, the Lee team favors a more extended fiscal policy. At the dining table, Koo claims to focus on artificial intelligence. In April, he was quoted as saying: “Korea’s prime time is in the next five years – our future depends on AI.”

However, it also depends on Koo quickly realizing that South Korea does not need to operate like a company. It needs to control the corporate giants in this place. The dominance of a few corporate giants has allowed the stock market to tie the stock market with a terrible “Korean discount.”

To his credit, Lee did talk about family-owned business groups or finance ministries that have long stood in the country. He talks about advocating small and medium-sized companies and shareholders that sounded alarm bells in corporate suites at Samsung, Hyundai, LG, SK, Lotte and other Goliaths. After all, South Korea is not nothing.

However, over the past 25 years, almost every South Korean president has achieved guaranteed property reforms. But everyone is aware of the size of the task to varying degrees and then chooses a job and Promote economic growth or tolerate only the status quo.

Will Lee become the leader of another Korean company? Hope so. But there is no hope for the challenge that the finance minister, whom he chose, misdiagnosed so early, because these things happened.