Lee Jae Myung government's second economic chief nominee says 'new challenges needed'

Lee Hyung-il, nominee for deputy prime minister and minister of the Ministry of Economy and Finance, said Sunday that "the time has come for new challenges toward a great leap forward to an 'irreplaceable Korea,' beyond the period of recovery and normalization."

Lee Hyung-il, nominee for deputy prime minister and minister of the Ministry of Economy and Finance [Yonhap]
Lee Hyung-il, nominee for deputy prime minister and minister of the Ministry of Economy and Finance [Yonhap]

Lee made the remarks in a statement distributed to reporters Sunday, saying he felt "an immense sense of responsibility" at being named the second deputy prime minister nominee under the Lee Jae Myung administration.

"I will work to further consolidate the growth momentum our economy has achieved over the past 15 months, while creating new investment and growth opportunities through the three mega-projects and other initiatives, laying the groundwork for a rebound in the potential growth rate," he said.

He added that he also plans to "do his utmost in policy efforts to address polarization and support people's livelihoods, drawing on the policy room secured through the semiconductor boom and other gains, so that the benefits of growth can be shared equally by all citizens."

Presidential Chief of Staff Kang Hoon-sik announced at a briefing Sunday that President Lee Jae Myung had nominated Lee Hyung-il, currently first vice minister of the Ministry of Economy and Finance, as deputy prime minister and minister of the Ministry of Finance and Economy.

Kang described the nominee as "a standout policy expert who has held key positions across economic policy," adding that Lee had "demonstrated his execution capabilities by leading the introduction of a maximum oil price system in response to the high oil prices stemming from the Middle East."

Kang added that he expects Lee, as a young economic chief, to "translate record-breaking economic indicators into tangible improvements in people's quality of life, overcome polarization and achieve stable growth for our economy."


y2k@heraldcorp.com