Deputy Prime Minister Hyungil Lee Holds First-Class Executive Meeting as First Official Duty Instead of Inauguration Ceremony

Executive Briefing Follows Appointment Approval
Message Delivered via Internal Broadcast Instead of Inauguration Ceremony

Yonhap News Agency

Lee Hyung-il, the newly appointed Deputy Prime Minister and Minister of Economy and Finance, presided over a first-grade executive meeting on September 22 as his first official schedule after taking office, beginning preparations to monitor food prices ahead of the Chuseok holiday.

According to related ministries, President Lee Jaemyung, currently visiting New York, USA, to attend the United Nations General Assembly, gave final approval to Lee's appointment, with Deputy Prime Minister Lee officially starting his term at around 9 a.m. on the same day.

Instead of holding a separate inauguration ceremony, Deputy Prime Minister Lee communicated with employees via an in-house broadcast, uploading a pre-recorded video. In this video, he emphasized, "From today, I have simply stepped over a threshold from the Vice Minister’s Office to the Deputy Prime Minister’s Office—the current economic situation and policy challenges remain unchanged from yesterday." He called on staff to continue existing policies without wavering.

He also presented core policy directions such as stabilizing prices, improving public perception of economic growth, and exhibiting responsible leadership by example. Deputy Prime Minister Lee promised, "I will carefully ensure that as we raise our potential growth rate, the benefits of growth are distributed widely across the lives of all our citizens. I will take the lead in coordinating key issues and share the heavy responsibilities. I will make the Ministry of Economy and Finance a workplace where staff can feel pride and fulfillment."

That morning, Deputy Prime Minister Lee attended a closed-door pre-investment briefing regarding U.S. investments at the full meeting of the Economic Planning Committee. For his first official public schedule after inauguration, he is expected to receive a report from first-grade executives at the Government Complex Seoul at around 2 p.m. Attendees are expected to include Kang Giryong (Vice Minister), Moon Jiseong (Director General for International Economy), Kim Hujin (Planning and Coordination Office Chief), Cho Manhee (Tax Office Chief), Hwang Soongwan (National Treasury Office Chief), Jang Jeongjin (Spokesperson), among others.

At this meeting, Deputy Prime Minister Lee is expected to instruct officials to thoroughly manage food prices ahead of the Chuseok holiday, address instability in crude oil supply from the Middle East, follow up on investment agreements with the United States, and respond to changes in domestic and international financial and foreign exchange markets.

He particularly emphasized that price stability should be the foundation of people’s livelihoods and the starting point for easing polarization, urging the administration to focus its policy capabilities accordingly. The government has previously announced the 'Chuseok Livelihood Stabilization Measures' and additional supplementary measures, and is currently working to expand essential holiday goods supply and provide discount support totaling 193 billion won—more than twice last year’s amount—through the end of this month.

On September 18, Deputy Prime Minister Lee visited Gongneung Dokkaebi Market in Nowon District, Seoul, to monitor daily good prices and listen to merchants' concerns, stating, "I will continue to closely observe shopping basket prices and difficulties faced by traditional markets and small business owners, and ensure that the government's livelihood stabilization policies are smoothly implemented in the field by meticulously checking progress."

Immediately after the executive meeting, Deputy Prime Minister Lee is scheduled to depart for New York, USA, to conduct an investment presentation (IR) and then accompany President Lee on his itinerary.

This content was produced with the assistance of AI translation services.