[Lee Jaemyung's Power Man] Koo Yooncheol Nominated as Minister of Economy and Finance [AK Radio]

Longest-serving Minister for Government Policy Coordination and Fiscal Expert
"Economic Innovation Should Build 'Republic of Korea Inc.'"
"Everyone Must Move Toward an AI-Driven Economy Through AX"

On June 29, President Lee Jaemyung appointed Koo Yooncheol, a distinguished professor in the Department of Economics at Seoul National University, as the nominee for Minister of Economy and Finance. Koo, who previously served as Director-General for Budget, Second Vice Minister of Economy and Finance, and Minister for Government Policy Coordination, is regarded as a fiscal and budget expert with strong political acumen. The economic team has been structured around the Ministry of Economy and Finance, with Kim Yongbeom as Chief Presidential Secretary for Policy, Koo Yooncheol as the nominee for Minister of Economy and Finance, and Kim Jeonggwan as the nominee for Minister of Trade, Industry and Energy. The administration has made it clear that it intends to respond swiftly to economic crises and to seek new paths for future growth centered on AI.

Koo Yooncheol was born in 1960 in Seongju, North Gyeongsang Province. He graduated from Daegu Youngshin High School and the Department of Economics at Seoul National University, and earned a master's degree in public administration from Seoul National University. After passing the 32nd Higher Civil Service Examination, he served as Director-General for Budget Coordination, Director of Budget Review, and Director-General for Budget at the Ministry of Economy and Finance. During the Roh Moo-hyun administration, he worked as an administrative officer, secretary for personnel policy, and director of the National Situation Room. Under the Moon Jae-in administration, he served as the longest-serving Minister for Government Policy Coordination for two years and one month, as well as Second Vice Minister of Economy and Finance. He was selected as the "most admired supervisor" at the Ministry of Economy and Finance for three consecutive years. During the Yoon Sukyeol administration, he worked in the private sector, serving as Chairman of the Special Committee for Investment Promotion in North Gyeongsang Province, Chairman of the Gyeongbuk Cultural Foundation, distinguished professor at Seoul National University's Department of Economics, and outside director at Samsung Life Insurance. During the last presidential election, he was active in economic think tanks such as the Future Economic Growth Committee and Growth and Integration.

In a media interview following his nomination, Koo Yooncheol stated, "Through the AI transformation (AX), I will push relentlessly so that several world-leading sectors can emerge from Korea," and added, "The fundamental direction for economic innovation is to build 'Republic of Korea Inc.'?to manage the country like a corporation." He emphasized that "the government, businesses, and the people must all move toward an AI-driven economy through AX." He also expressed the view that administrative districts should be reorganized into ultra-wide economic zones and that local councils at the city, county, and district levels should be abolished to enhance government efficiency. In his books "Revolution Korea: 11 Strategies for Grand Innovation in the Republic of Korea" and "AI Korea," he has explored strategies for Korea's development. Regarding the restructuring of the Ministry of Economy and Finance, he believes that policy and budget functions should be integrated, and that the international finance and tax divisions should be merged with the Financial Services Commission.

For now, Koo plans to focus on stabilizing the prices of daily necessities such as ramen and bean sprouts, but ultimately, his task is to create new future growth engines through investment in new industries such as AI. He stands at the forefront of implementing President Lee's vision, which emphasizes 'growth' and 'performance.'

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