Seoul: Ex-lawmaker Lee Hye-hoon, a veteran economist, has been nominated as the new minister for planning and budget, according to the presidential office. This announcement was made as President Lee Jae Myung selected Lee Hye-hoon, a former three-term lawmaker from the conservative camp, to head the newly established Ministry of Planning and Budget. This ministry will be integrated under the prime minister's office as part of a government reorganization bill taking effect in January, explained Lee Kyu-yeon, presidential secretary for public relations and communication.
According to Yonhap News Agency, the nominee has a significant track record, having served three terms in the National Assembly within the conservative bloc and having been a candidate for the main opposition People Power Party in the April 2024 parliamentary elections. Under the new governmental structure, the Ministry of Finance and Economy will serve as the policy control center, while the Ministry of Planning and Budget will focus on budget allocation and developing mid- to long-term economic strategies.
Lee Hye-hoon brings extensive experience in policymaking and research, with a history of service on the National Assembly's Special Committee on Budget and Accounts and as a research fellow at the Korea Development Institute. Her legislative efforts include revising the Minimum Wage Act to enforce penalties on employers who pay below the legal standard and amending the Interest Limitation Act to set caps on interest rates.
Press secretary Lee noted that with her legislative background, the nominee is seen as the ideal candidate to lead the Ministry of Planning and Budget in shaping the nation's economic strategies and fostering future growth. Her nomination will undergo a parliamentary confirmation hearing; however, the president retains the authority to appoint her regardless of the hearing's outcome.
Additionally, President Lee appointed former two-term lawmaker Kim Song-sik as vice chair of the National Economic Advisory Council, which provides direct advice to the president on crucial economic policies and national development strategies. Kim has been recognized for his policy-focused reforms during his tenure in the National Assembly, particularly in budget and finance-related committees.
The president also made several other key appointments. Lee Kyung-soo, chairman of nuclear fusion startup Enable Fusion, was appointed vice chair of the National Science and Technology Advisory Council. Kim Jong-gu, who previously led food policy at the Ministry of Agriculture, Food and Rural Affairs, was promoted to vice minister. Hong Ji-seon, vice mayor of Namyangju, was selected as the second vice minister of land, infrastructure, and transport.
Rep. Cho Jung-sik of the ruling Democratic Party, now in his sixth term, was named the president's special adviser for political affairs. Lee Han-joo, chairman of the National Research Council for Economics, Humanities and Social Sciences, was appointed special adviser for policy, having previously led the Presidential State Affairs Planning Committee during the transition to the Lee administration.