Yoo Seong-min

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Yoo Seong-min
Yoo Seong-min in Gangneung (Cropped).jpg
Yoo Seong-min in May 2017
Member of the National Assembly
Assumed office
27 October 2005
Preceded by Park Chang-dal
Constituency Dong B (Daegu)
In office
30 May 2004 – 12 October 2005
Constituency Proportional representation
Leader of the Bareunmirae Party
In office
13 February 2018 – 14 June 2018
Serving with Park Joo-sun
Preceded by Position established
Succeeded by Kim Dong-cheol (Interim)
Leader of the Bareun Party
In office
13 November 2017 – 13 February 2018
Preceded by Joo Ho-young (Acting)
Succeeded by Position abolished
Personal details
Born (1958-01-07) 7 January 1958 (age 61)
Daegu, South Korea
Citizenship South Korean
Political party Bareunmirae (2018–present)
Other political
Saenuri (2000–2016; 2016)[1][2]
Independent (2016; 2016–2017)[3][4]
Bareun (2017-2018)
Alma mater Seoul National University
University of Wisconsin–Madison
Occupation Politician, economist
Military service
Allegiance  South Korea
Branch/service Republic of Korea Army
Years of service 1979–1981
Rank ROK Army Byeongjang.png Byeongjang (Sergeant)
Korean name
Revised Romanization Yu Seungmin
McCune–Reischauer Yu Sŭngmin
IPA ju.sɯŋ.min

Yoo Seong-min[a] (Hangul유승민, born 7 January 1958), also known as Yoo Seung-min, is a South Korean economist and politician. Yoo is currently a member of the Korean National Assembly and was the Bareun Party's presidential nominee in the 2017 South Korean presidential election. He is the son of late Daegu court chief attorney and parliament member Yoo Soo-ho.

Early life

Yoo was born in Daegu, and was the youngest child. His father was a farmer, but then became a judge and had been in politics for 8 years between 1985-1993.[5] Yoo obtained his B.A. in Economics from Seoul National University in 1982, and his Ph.D. in Economics from the University of Wisconsin–Madison in 1987. His focus was in industrial organization with a minor in economic theory and mathematical economics/econometrics. Yoo's Ph.D. dissertation is titled "Entry Into a Foreign Market: Theory and Evidence" and was supervised under Rachel McCulloch.[6]

After graduation Yoo worked as an economist at the Korea Development Institute (KDI) from 1987-2000.[7] He then worked as President of the Youido Institute, a think-tank for then Hannara (now Liberty Korea) Party from 2000-2003.[8]

Hannara/Saenuri Party

Early political career

He was first elected as member of the National Assembly in 2004 as a member of the conservative Hannara Party as part of the proportional representation ticket.[9] Yoo also served as Chief of Staff to future President and then-lawmaker/Chairman of the Hannara Party Park Geun-hye in 2005. He was considered her close aide.[10] He went onto be elected three more times representing parts of Daegu.

Yoo was the floor leader for the Saenuri Party (renamed from Hannara) in the National Assembly, resigning from the position in July 2015.[11][12]

Anti-Park faction

Yoo and Park Geun-hye reportedly grew apart following Park's loss in the presidential nomination process to Lee Myung-bak in the primary of the 2007 presidential election.[9]

Following greater separation from Park in 2007, as well as his open critical comments of President Park's policies such as opposing the President's promise to expand welfare without increasing taxes, Yoo was deselected from his party's nomination process in for the 2016 general election. President Park called Yoo to be engaging in a "politics of betrayal."[9] He stood as an independent in the 2016 election and managed to win with nearly three quarters of the vote. He stated after the election in interview that he would return to the Saenuri Party[13] and did so.

Yoo was a notable member of the party for his previously close support for Park Geun-hye but later split from the pro-Park faction of the party. This contributed to his eventually founding of the splinter conservative party Bareun Party during President Park's political scandal.

Bareun Party

Yoo went onto help form, and joined, the political group New Conservative Party for Reform (later permanently renamed the Bareun Party) during the 2016 South Korean political scandal. Bareun Party had enough defectors to become the fourth largest party in the National Assembly, with Yoo subsequently presented as "Candidate #4" in the 2017 presidential election.

2017 presidential campaign

Party nomination

Yoo is currently running in the 2017 South Korean presidential election.[14] Yoo faced a primary challenge against Nam Kyung-pil to be his party's nominee,[15] but went onto win the presidential nomination of the Bareun Party in March 28, 2017.[16]

Campaign platform

His campaign platform has been conservative on foreign policy (안보는 보수 - "maintaining national security") while calling for reforms on the South Korean economy (경제는 개혁 - "reforming the economy").[17] Yoo emphasizes "warm conservatism," which calls for reforms in the economy to provide what he brands himself to be true conservatism. This is in contrast to pro-Park Geun-hye faction in Korean conservative policies, which was the faction the Bareun Party split itself from and is currently known as the Liberty Korea Party.

Defection of Bareun Party members

About a week prior to the presidential election, 13 members of the Bareun party announced they would be defecting back to the Liberty Korea Party reasoning they should back one conservative candidate in the five-candidate field.[18] One lawmaker, Hwang Young-cheul, reversed his decision the next day.[19] The result of this defection helped boost Yoo's polling numbers.[citation needed]


Yoo finished fourth in the election, with his best results in his home area of Daegu.

Personal life

He has an elder brother and an elder sister.[citation needed] He and his wife have two adult children, a son (born 1982) and a daughter (born 1994).[citation needed]


  1. ^ "Seung-min" in Revised Romanization.


  1. ^ "'대통령에 맞선 자', 지인들이 말하는 유승민의 과거" (in Korean). The Hankyoreh. July 10, 2015.
  2. ^ "'비박' 유승민 새누리 복당…친박 반발로 또 내홍" (in Korean). Yonhap News Agency. June 16, 2016.
  3. ^ "[속보] 유승민 탈당 및 무소속 출마 선언" (in Korean). The Chosun Ilbo. March 23, 2016.
  4. ^ "비박계 의원 29명 집단탈당…'개혁보수신당' 창당 선언(종합)" (in Korean). Yonhap News Agency. December 27, 2016.
  5. ^ Episode 3 of Pot Stand, when Yoo quashed rumors about him being born into an affluent family.
  6. ^ Yoo, Seong Min (1987-01-01). Entry Into a Foreign Market: Theory and Evidence. University of Wisconsin--Madison.
  7. ^ "YOO's Life - 유승민". www.ysm21.com (in Korean). Retrieved 2017-04-28.
  8. ^ "Members Profile . korea.assembly.go.kr. Retrieved 2017-05-09.
  9. ^ a b c "(profile) Bareun Party's presidential nominee known as aide-turned-critic of Park". Yonhap News Agency. Retrieved 2017-04-19.
  10. ^ "유승민 (정치인)". 위키백과, 우리 모두의 백과사전 (in Korean). 2016-12-27.
  11. ^ "Saenuri Party Floor Leader Resigns".
  12. ^ "Political Contrast: Saenuri Floor Leader Yoo Seung-min Pursues Liberal Economic Policies, Conservative Security". Business Korea. 2015-04-10. Retrieved 2015-12-13.
  13. ^ "무소속 유승민 4선 성공 "한번도 새누리당人 아니라고 생각한적 없어"" (in Korean). Korea Economic TV. 2016-04-14. Retrieved 2016-04-17.
  14. ^ "29 lawmakers break away from Saenuri Party". koreatimes. 2016-12-27. Retrieved 2017-01-02.
  15. ^ "유승민 대 남경필, 오늘 오후 5시 한명만 웃는다" (in Korean). 2017-03-28. Retrieved 2017-03-28.
  16. ^ "Rep. Yoo Seong-min wins Bareun Party nomination". koreatimes. 2017-03-28. Retrieved 2017-03-28.
  17. ^ "Rep. Yoo Seong-min wins Bareun Party nomination". koreatimes. 2017-03-28. Retrieved 2017-03-31.
  18. ^ "(4th LD) 13 lawmakers of Bareun Party defect ahead of presidential election". Yonhap News Agency. Retrieved 2017-05-11.
  19. ^ Herald, The Korea (2017-05-03). "Bareun Party lawmaker withdraws earlier defection decision". Retrieved 2017-05-11.
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