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 Finance and Economy, stated on August 30, "It is now time for a new challenge so that Korea can take a great leap forward to become an 'irreplaceable nation' beyond the period of recovery and normalization." He pledged to establish the foundation for investment and growth that would lead to a rebound in potential growth rate.

In his acceptance remarks on August 30, Lee said, "I feel an immense sense of responsibility at being nominated as the second Deputy Prime Minister for Economic Affairs following the launch of the Lee Jaemyung administration."

Lee first emphasized his commitment to consolidating the growth momentum that the Korean economy has achieved over the past one year and three months. At the same time, he pledged to create new investment and growth opportunities through the three major mega projects, and to lay the groundwork for the potential growth rate to rebound.

He also made it clear that he intends to address not just growth, but also issues impacting everyday life. Lee stated, "I will work to ensure that the benefits of growth are spread evenly across the entire nation," and added, "Based on the increased policy capacity generated by the semiconductor boom and other factors, I will do my best to implement policies to address livelihood issues such as overcoming polarization."

Chief Secretary Kang Hoonshik commented on Lee's nomination, stating, "He is considered one of the foremost experts in economic policy, having held key posts in various areas of economic policy." Kang added, "He demonstrated strong execution capabilities by leading the adoption of the oil price cap in response to the Middle Eastern oil crisis. As a young economic leader, it is expected that he will translate record-breaking economic indicators into real improvements in the quality of life for people and lead stable growth for our economy by addressing polarization."

Lee is a native of Daegu and graduated from Gyeongsang High School in Daegu and the Economics Department of Seoul National University. He holds a Ph.D. in economics from Texas A&M University in the United States. He entered public office through the 36th higher civil service exam and began his career at the Ministry of Finance in 1993. After the Asian financial crisis, he served in the Financial Policy Bureau of the Ministry of Finance and Economy and the Public Fund Oversight Committee. Subsequently, he held a series of key roles at the Ministry of Strategy and Finance, including Director of the Economic Analysis Division, Director of the Comprehensive Policy Division, and Director General of the Economic Policy Bureau.

During the Moon Jae-in administration, he served as Senior Administrative Officer in the Presidential Office's Economic Affairs Office, Economic Policy Secretary, Director General of Economic Policy, and Vice Minister at the Ministry of Strategy and Finance. In the Yoon Suk-yeol administration, he again served as Vice Minister and later became Commissioner of Statistics Korea. Since the launch of the Lee Jaemyung administration, he has served as First Vice Minister at both the Ministry of Strategy and Finance and the Ministry of Finance and Economy, supporting the current government's economic policy.

Lee's experience serving twice as Vice Minister in both progressive and conservative administrations is seen as one of his strengths. With extensive experience in designing economic revitalization measures and directions for economic policy in key roles, he is regarded as the right person to lead the Lee Jaemyung administration's economic agenda.

Within the organization, Lee is widely recognized not only for his competence, but also for his gentle leadership and communication skills.

▲Daegu ▲Gyeongsang High School (Daegu), Seoul National University (Department of Economics) ▲Ph.D. in Economics, Texas A&M University (U.S.) ▲36th Higher Civil Service Exam ▲Ministry of Strategy and Finance: Director of Economic Education and Public Relations, Director of Money Market Division, Director of Economic Analysis Division, Director of Comprehensive Policy Division, Director General of Economic Policy ▲Presidential Office: Economic Policy Secretary ▲Vice Minister, Ministry of Strategy and Finance ▲Commissioner of Statistics Korea ▲First Vice Minister, Ministry of Strategy and Finance and Ministry of Finance and Economy

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