Overview
- President Lee nominated Lee Hye-hoon as the inaugural minister of the new Ministry of Planning and Budget, restoring a standalone budget arm.
- The ministry launches Jan. 2 under the prime minister to allocate budgets and craft mid- to long-term strategies, while Finance and Economy stays the policy control tower.
- Lee is a former three-term conservative lawmaker and economist who served on budget oversight committees and worked at the Korea Development Institute, holding a UCLA Ph.D.
- Ahead of her hearing, she warned the economy faces a “perfect storm” and vowed to cut waste and make “bold” investments to support livelihoods and growth.
- The presidential office also named Kim Song-sik to the National Economic Advisory Council and Lee Kyung-soo to the National Science and Technology Advisory Council, alongside vice ministerial appointments.