Lee Hyungil: "Will Prioritize Reviewing Prices and Real Estate... Will Focus on Revitalizing the Economy"

"Price Measures to Be Announced as Quickly as Possible"

Lee Hyungil, Acting Minister of Strategy and Finance (First Vice Minister), stated on the 12th, "After taking office, I will first review two of the most important tasks of the Ministry of Strategy and Finance: prices and real estate." He also expressed his determination, saying, "I believe this is a crucial time for the Ministry of Strategy and Finance, and I will do my utmost to revitalize the economy."

Lee made these remarks in the afternoon when he visited the Ministry of Strategy and Finance press room located in the Central Building of the Government Complex Sejong.

Lee Hyungil, Acting Minister of Strategy and Finance (First Vice Minister), is talking with reporters in the Ministry of Strategy and Finance press room located in the Central Building of the Government Complex Sejong on the 12th. Photo by Yonhap News

On the morning of the same day, he began his first official duties by presiding over a meeting of ministers related to prices, aiming to find ways to ease the burden of perceived price increases. He said, "Regardless of the overall inflation rate, there have been difficulties due to the prolonged cumulative burden of prices, so we reviewed the overall price situation in areas such as agricultural products and processed foods during the meeting." He added, "We will prepare and announce the relevant measures as quickly as possible."

Regarding real estate issues, he explained, "After reviewing the relevant matters in the Real Estate Market and Supply Situation Task Force (TF) meeting held this afternoon, we will issue additional messages if necessary."

Lee also shared his thoughts upon taking office, saying, "I feel a heavy sense of responsibility for being entrusted with such an important role in these difficult economic times." He pointed out, "In the short term, domestic demand is sluggish and people's livelihoods are not easy, and there is also uncertainty in external conditions." He continued, "Looking further ahead, there are also structural vulnerabilities in the Korean economy."