Lee takes office via video message, skipping formal ceremony; orders policy continuity

'Price stability is the starting point for easing polarization'

First official schedule takes him to National Assembly for US investment briefing

Newly appointed Deputy Prime Minister and Minister of Economy and Finance Lee Hyung-il said Tuesday that "economic growth cannot be felt through numbers alone" and pledged to spare no effort in both raising the country's potential growth rate and ensuring the benefits of growth reach all citizens equally.

Lee was officially sworn in Tuesday morning following President Lee Jae-myung's approval and delivered his remarks via a video message in lieu of a formal inauguration ceremony. The video was broadcast through the Ministry of Economy and Finance's YouTube channel and internal network.

Newly appointed Deputy Prime Minister and Minister of Economy and Finance Lee Hyung-il delivers a message to ministry staff via video on Tuesday. [Ministry of Economy and Finance]
Newly appointed Deputy Prime Minister and Minister of Economy and Finance Lee Hyung-il delivers a message to ministry staff via video on Tuesday. [Ministry of Economy and Finance]

"Starting today, I have simply crossed one threshold — from the vice minister's office to the deputy prime minister's office," Lee said. "The economic challenges facing Korea, the tasks we must solve, and our responsibility to the people are no different from yesterday. Everything we have been working through together is still sitting on my desk."

He identified price stability as the cornerstone of livelihood policy. "Price stability is the foundation of people's livelihoods and the starting point for easing polarization," Lee said. "I will look after things more carefully so that all citizens can feel the results of growth."

Lee also called on ministry staff to consistently carry forward the policies they have pursued together. "I ask that each of you, in your respective roles, uphold the principles and steady commitment of a public servant and do your utmost to find the answers the people need," he said. "Please continue to consistently advance the policies we have worked through so intensely together — as an extension of that same effort."

He added that he would take the lead in coordinating and bearing the weight of the difficult responsibilities on his staff's desks. "I will build a Ministry of Economy and Finance where hard work is properly recognized and where public servants can feel the pride and fulfillment that come with their calling," he said.

As his first official engagement after taking office, Lee appeared before the National Assembly's Finance and Economy Planning Committee to deliver a government briefing on the first project under a $350 billion investment initiative targeting the United States.

The Assembly's finance committee and the Trade, Industry, Small and Medium Enterprises and Venture Business Committee held separate plenary sessions Tuesday morning, receiving closed-door briefings from the Ministry of Economy and Finance and the Ministry of Trade, Industry and Energy on the progress and details of the US investment negotiations. Lee attended the finance committee session, while Industry Minister Kim Jung-kwan and Trade Negotiation Headquarters chief Park Jeong-seong appeared before the trade and industry committee.


y2k@heraldcorp.com