South Korean President Lee Jae Myung has chosen Lee Hye-hoon, a veteran economist and former three-term lawmaker from the conservative camp, as the new Minister for Planning and Budget. Lee will head the Ministry of Planning and Budget, established under a government reorganization bill effective in January. She brings extensive experience, having served in the National Assembly and worked on economic policies.
Lee’s background includes three terms in the National Assembly within the conservative bloc and participation in the April 2024 parliamentary elections. The Ministry of Finance and Economy will oversee policy control, while the new Ministry of Planning and Budget will handle budget allocation and long-term economic strategies. Lee’s nomination recognizes her expertise in policymaking and research, gained through roles in budget committees and at the Korea Development Institute.
Known for her legislative contributions, Lee led efforts to amend wage and interest rate laws. The President’s Press Secretary highlighted her legislative experience as crucial for formulating national strategies. Lee’s appointment is pending a parliamentary confirmation hearing, but the President retains the option to proceed regardless of the outcome. In a statement, Lee expressed commitment to realizing the administration’s welfare and growth objectives.
President Lee also appointed Kim Song-sik as vice chair of the National Economic Advisory Council, a former two-term lawmaker with a focus on economic policies. Other appointments include Lee Kyung-soo as Vice Chair of the National Science and Technology Advisory Council, Kim Jong-gu as Vice Minister, and Hong Ji-seon as second Vice Minister. Rep. Cho Jung-sik was named Special Adviser for Political Affairs, and Lee Han-joo as Special Adviser for Policy.
