Yoon Appoints '40s Working Mom' Hye-mi Yoo, Hanyang University Professor, as First Low Birthrate Response Chief

Yu Chief "Will Slow Down Decline in Birth Rate and Drive Rebound"

Professor Yoo Hye-mi of Hanyang University's Department of Economics and Finance, newly appointed as the Chief of Low Birthrate Response at the Presidential Office, is speaking about her thoughts at the announcement of political appointments held on the 25th at the Presidential Office building in Yongsan, Seoul.
[Image source=Yonhap News]

President Yoon Suk-yeol appointed Professor Yoo Hye-mi of Hanyang University's Department of Economics and Finance as the inaugural Chief Secretary for Low Birthrate Response on the 25th.

Jung Jin-seok, Chief Secretary of the Presidential Office, announced this appointment during a briefing at the Yongsan Presidential Office that afternoon.

Professor Yoo, born in 1977, graduated from Seoul National University's Department of Economics and joined the Bank of Korea. She later pursued studies in the United States, earning a Ph.D. in Economics from the University of Rochester. After serving as an assistant professor in the Department of Economics at the State University of New York at Buffalo, she has been a professor at Hanyang University's Department of Economics and Finance. Her husband, Seok Byung-hoon, is a professor in the Department of Economics at Ewha Womans University, and the couple, both economists, have twin children attending elementary school.

Regarding the background of the appointment, Chief Secretary Jung explained, "The newly appointed Chief Secretary Yoo has conducted research on various causes and solutions to South Korea's low birthrate issue, focusing on human capital and labor markets, including the impact of marriage and spouse wages and the resulting changes in labor composition on the economy. She has also studied the housing market, which significantly influences individual and family decision-making." He added, "Alongside her research activities, she has continuously offered suggestions on the causes and solutions to the low birthrate problem through the media."

He continued, "Chief Secretary Yoo served as the chairperson of the Inclusive Finance Special Committee under the Yoon Suk-yeol administration's National Integration Committee, exploring ways to realize inclusive finance, demonstrating a high understanding of government policies. As a working mother raising elementary school twins, she understands practical difficulties well. Based on her accumulated expertise, experience, and fresh perspective as a chief secretary in her 40s, she is expected to develop fundamental and innovative measures to overcome the low birthrate issue."

Chief Secretary Yoo expressed her thoughts, saying, "I am honored to serve as the Republic of Korea's first Chief Secretary for Low Birthrate Response. Given the President's declaration of a national population emergency, I feel the heavy responsibility entrusted to me regarding resolving the low birthrate issue."

She added, "I will boldly announce and propose not only short-term policies to slow the decline in birth rates and stimulate a rebound but also tasks that require structural changes in the economy and society. Even if these measures prove effective, a significant decrease in the working-age population is inevitable for some time, so I will carefully review and prepare various policies to minimize side effects."

Chief Secretary Yoo also stated, "Since demographic changes have wide-ranging impacts on economic growth, finance, employment, education, and welfare, I will actively strive to communicate with multiple ministries. I will do my best to assist the President in overcoming the national population emergency and leap toward a hopeful future."

Alongside the Chief Secretary for Low Birthrate Response, Choi Han-kyung, a budget and finance expert from the Ministry of Economy and Finance and Secretary-General of the Low Fertility and Aging Society Committee Secretariat, was appointed as Population Planning Secretary, and Choi Jong-gyun, former Director of Population Policy at the Ministry of Health and Welfare and Deputy Director of the Korea Disease Control and Prevention Agency, was appointed as Low Birthrate Response Secretary.