Deputy Prime Minister Lee Hyungil Holds First Senior Officials Meeting After Taking Office: "Comprehensive Review of Economic Risks" (Summary)

On September 22, Lee Hyungil, the newly appointed Deputy Prime Minister for Economic Affairs and Minister of Strategy and Finance, urged a comprehensive review of potential risks in the real economy, as well as in the real estate, financial, and foreign exchange markets from the ground up, calling for proactive measures to be put in place as needed.

Deputy Prime Minister Lee presided over his first meeting with Grade 1 senior officials since taking office at around 2 p.m. at the government complex in Seoul, reviewing current conditions in the real economy, real estate, financial, and foreign exchange markets.

He stated, "Although our economy continues to show signs of overall improvement, both domestic and global uncertainties remain high due to factors such as the semiconductor industry outlook, shifts in global capital flows, and geopolitical risks." He directed the team not to become complacent with current indicators but instead to further strengthen their macroeconomic analysis and forecasting capabilities. He also asked that current issues, including investment projects in the United States, be managed without disruption.

He stressed, "Stabilizing prices will be the foundation for people's well-being," adding, "The Ministry of Strategy and Finance must take a leading role as the control tower of the economic team to address the key social challenge of easing polarization."

Regarding organizational management, Lee asked, "Please enhance collaboration so that the Ministry's core functions — such as taxation, treasury management, international finance, and public policy — and its overarching role in discovering economic policies, inter-ministerial coordination, and international cooperation as Deputy Prime Minister are organically interconnected." He added, "Through personnel management and more, I will work to ensure that employees are appropriately rewarded based on their efforts and achievements."

Lee began his official term at about 9 a.m. on the same day, as President Lee Jaemyung — who is visiting New York to attend the United Nations General Assembly — officially approved his appointment.

Lee replaced the inauguration ceremony by posting a recorded address on the internal company broadcast. Having most recently served as First Vice Minister of Strategy and Finance, he said, "Today, I have simply crossed the threshold from the Vice Minister's office to the Deputy Prime Minister's office; the current economic situation and tasks remain unchanged from yesterday." He called for a sense of continuity in their work.

To the Ministry’s staff, he stated, "I ask that you continue to pursue the policies we have deliberated on so intensively together thus far," and assured them, "As for the heavy burdens on your desks, I will take the lead in coordinating and making decisions, and will shoulder them together with you."

Immediately after the senior officials' meeting, Deputy Prime Minister Lee departed for New York, where he will hold an investor relations (IR) session to promote the Korean economy to overseas investors, and then accompany the President for his scheduled events.

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