Deputy Prime Minister Nominee Hyungil Lee: "Potential Growth Rate to Rebound Through Three Mega Projects... Benefits of Growth to Be Shared Equally" (Comprehensive)

Hyungil Lee, nominee for Deputy Prime Minister of Economy and Minister of Finance and Economy

Hyungil Lee, nominee for Deputy Prime Minister of Economy and Minister of Strategy and Finance, stated on August 30 that "it is time for new challenges to achieve a great leap forward toward an 'irreplaceable Korea,' moving beyond a period of recovery and normalization." He also announced plans to establish the investment and growth foundations necessary to boost the country’s potential growth rate.

In a statement expressing his feelings upon being nominated on August 30, Lee said, "I feel an immense sense of responsibility, having been nominated as the second Deputy Prime Minister since the inauguration of the Lee Jaemyung administration," and shared the aforementioned intentions.

Lee first emphasized his commitment to firmly maintaining the growth momentum that the Korean economy has achieved over the past year and three months. At the same time, he announced plans to create new investment and growth opportunities through three major mega-projects and thereby lay the foundation for a rebound in the potential growth rate.

He also made it clear that he is determined to address people's livelihoods as well as growth. Lee said, "I will ensure that the benefits of growth are evenly distributed to all citizens," and "based on the policy capacity secured from the semiconductor boom and other factors, I will do my utmost to develop policies focused on overcoming polarization and supporting the livelihoods of the people."

Chief Secretary Kang Hoonshik commented on Lee's nomination, stating, "He is recognized as a leading expert, having held key positions in economic policy," and added, "He demonstrated his capacity for execution by leading the introduction of a maximum oil price system in response to the Middle East-induced oil price crisis." Kang went on to say, "As a young leader at the helm of economic affairs, he is expected to translate record-breaking economic indicators into tangible improvements in people's quality of life and to achieve stable growth for our economy by overcoming polarization."

Lee, a native of Daegu, graduated from Gyeongsang High School in Daegu and majored in economics at Seoul National University. He holds a Ph.D. in economics from Texas A&M University in the United States. Entering public service through the 36th Higher Civil Service Examination, he began his career in the Ministry of Finance in 1993. After the Asian foreign exchange crisis, he worked in the Financial Policy Bureau of the Ministry of Finance and Economy and on the Public Fund Oversight Committee, later holding major positions including Director of Economic Analysis, Director of Comprehensive Policy, and Director General for Economic Policy at the Ministry of Strategy and Finance.

Under the Moon Jae-in administration, he served as Senior Administrator for Economic Affairs in the Presidential Office, Economic Policy Secretary, Director General for Economic Policy at the Ministry of Strategy and Finance, and Vice Minister. He continued as Vice Minister under the Yoon Suk-yeol administration, after which he served as Commissioner of Statistics Korea. Since the launch of the Lee Jaemyung administration, he has supported the current government's economic policy as the First Vice Minister of the Ministry of Strategy and Finance and the Ministry of Finance and Economy.

His experience serving as Vice Minister for Economic Affairs under both progressive and conservative administrations is considered one of Lee’s strengths. Having designed key policy measures and directions for economic revitalization in leading policy roles, he is regarded as the right person to lead the economic policy of the Lee Jaemyung administration.

Within the organization, Lee is widely praised not only for his abilities but also for his warm leadership and communication skills as a government official.

▲Daegu ▲Gyeongsang High School, Daegu / Economics, Seoul National University ▲Ph.D. in Economics, Texas A&M University, USA ▲36th Higher Civil Service Examination ▲Director for Economic Education & PR, Ministry of Strategy and Finance ▲Director of Capital Markets ▲Director of Economic Analysis ▲Director of Comprehensive Policy ▲Director General for Economic Policy ▲Economic Policy Secretary, Presidential Office ▲Vice Minister, Ministry of Strategy and Finance ▲Commissioner, Statistics Korea ▲First Vice Minister, Ministry of Strategy and Finance / Ministry of Finance and Economy

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