Lee Hyungil: "Resolving Obstacles to Corporate Investment to Create the Best Business Environment... Let's Tighten the Sails of Growth"

Deputy Prime Minister and Minister of Finance and Economy Lee Hyungil stated on October 1, "Through three major mega-projects and other initiatives, we will pursue large-scale, forward-looking investments in the future. At the same time, we will address on-site obstacles that hinder corporate investment, creating the world’s best business environment overflowing with creativity and vitality."

Deputy Prime Minister and Minister of Finance and Economy Lee Hyungil is attending the first Emergency Economic Headquarters meeting and Economic Ministers meeting held at the Government Complex Seoul in Jongno-gu, Seoul on the 1st, listening to the remarks of Financial Services Commission Chairman Lee Eokwon. 2026.10.1 Photo by Jo Yongjun

Presiding over the Emergency Economic Headquarters meeting and Economic Ministers’ meeting at the Government Seoul Building on October 1, Deputy Prime Minister Lee pledged, "Rather than being complacent with our current opportunities, we will further accelerate growth and achieve a rebound in the potential growth rate by tightening the ‘sails of growth.’"

He continued, "In order to ensure the benefits of economic recovery are spread evenly throughout all aspects of people’s livelihoods, we will manage inflation, a fundamental element of the economy, in a stable manner. We will also make every effort to mitigate polarization, narrowing the gaps between regions, industries, and generations." He emphasized, "Above all, for the three core social policy areas that have the greatest impact on people’s lives—housing, jobs, and inclusive finance—we will mobilize all available resources and policy tools to deliver outcomes that the public can genuinely feel as soon as possible."

He also stressed the importance of monitoring and managing macroeconomic risks. Deputy Prime Minister Lee said, "At a juncture where the boom in semiconductors sparked by an AI-driven transformation encounters the opposing trend of major countries shifting their monetary policies in response to the Middle East war, we will closely examine the impact on financial and real economies, and respond preemptively."

Deputy Prime Minister and Minister of Finance and Economy Lee Hyung-il is speaking at the first Emergency Economic Headquarters meeting and Economic Relations Ministers' meeting held on October 1 at the Government Seoul Building in Jongno-gu, Seoul. 2026.10.1 Photo by Jo Yongjun

The meeting discussed several topics: the second round of support plans for field-centered corporate investment and innovation, the reform plan for the Onnuri gift certificate system, support measures for the ‘Our Child Independence Fund’, and a Korean-style Green Transformation (K-GX) strategy.

Deputy Prime Minister Lee commented, "As seen in the recent heatwaves and floods in Nepal, the climate crisis has now become a reality that threatens not only the environment but also the stability of our society, the livelihood of our people, and our economy and industries." He promised to develop the K-GX strategy, aiming to secure new growth engines based on green competitiveness by advancing decarbonization in high-emitting industries and fostering leading green industries. The government will provide full support to ensure that every region and citizen can share in the outcome of GX, and that companies can actively participate.

This meeting marked the first Economic Ministers’ meeting since Deputy Prime Minister Lee took office. He assessed, "With exports in September reaching the highest monthly amount on record and, for the first time ever, annual exports expected to exceed $1 trillion, improvements in investment, consumption, and employment are also being seen, albeit with a time lag. This puts us on track to achieve 3% growth this year and reach $40,000 in per capita income."

He added, "Together with the ministers and vice-ministers, we will form a unified economic team, engage in rigorous discussions, and concentrate our policy capabilities on improving the lives of the public."

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