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Moon fires economic policy chiefs as growth falters

South Korean leader's pursuit of wage hikes backfires as hiring slows

South Korean President Moon Jae-in leaves the National Assembly in Seoul after delivering his speech on the government's 2019 budget proposal on Nov. 1.   © Reuters

SEOUL -- South Korean President Moon Jae-in sacked two top economic officials on Nov. 9 to jump-start his income-based growth policy, even as his lofty wage hikes ended up hurting the jobs market amid a lackluster economy.

The Blue House spokesman announced the removal of Economy and Finance Minister Kim Dong-yeon and chief of staff for policy Jang Ha-sung, the two men who had been at the control tower of Moon's economic policy.

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