[2025 Audit] Lee Changyong: "In Structural Reform, It Is Important to Start Implementing Even Small Ideas"

Lee Changyong, Governor of the Bank of Korea, emphasized on the 29th that "it is important to have various ideas, even small ones, and to actually implement them" in relation to structural reform.

Lee Chang-yong, Governor of the Bank of Korea Yonhap News

Governor Lee made these remarks while attending a comprehensive audit by the National Assembly's Planning and Finance Committee on this day. He was responding to a question from Oh Ki-hyung, a member of the Democratic Party of Korea, who asked for his opinion on which structural reforms the current administration should focus on.

He stated, "I don't believe there is anything that can be solved simply by doing just one thing as if by magic," and added, "Because there will inevitably be groups that benefit and groups that are disadvantaged (from structural reform or investment for the future), it is difficult to single out just one area."

Instead, Governor Lee introduced a structural reform paper recently released by the Bank of Korea. He explained, "If the introduction of autonomous vehicles is continuously delayed because the taxi industry is struggling, taxi drivers may face even greater difficulties when autonomous vehicles are eventually introduced. To address this, the Bank of Korea report suggested establishing a fund to purchase taxi licenses and conducting trial tests in specific regions to prepare for the future."

Governor Lee added, "As in this example, I believe it is helpful if we can come up with various ideas, even small ones, and actually put them into practice. The Bank of Korea continues to make various proposals."