Lee Hyehoon Nominated as Planning Minister: "Heavy Responsibility... No Faction or Ideology in the Economy"

Lee Hyehoon, Ministerial Candidate for the Ministry of Planning and Budget./Photo by Dongju Yoon doso7@

Lee Hyehoon, the ministerial candidate for the Ministry of Planning and Budget, stated on the 28th, "At a time when conflict and division are hindering the governance of the Republic of Korea more than ever before, I feel a heavy sense of responsibility. I will devote everything I have studied and accumulated throughout my life to reviving the economy and achieving national unity."

Immediately after her nomination, Lee released a statement saying, "I deeply sympathize with President Lee Jaemyung's policy of appointing the most suitable person regardless of their political background, without disadvantaging anyone based on their political color. I will sincerely prepare for the upcoming confirmation hearing."

Lee emphasized, "It has long been my conviction that solving economic and livelihood issues requires cooperation from everyone, regardless of political faction or ideology. The Lee Jaemyung administration's national goal of achieving both growth and welfare, and realizing sustainable development, is identical to my own position, having studied and contemplated the economy my entire life."

She continued, "As the dedicated ministry responsible for planning the nation's future, the Ministry of Planning and Budget is tasked with fulfilling the Lee Jaemyung administration's national goal of achieving both welfare and growth, and realizing sustainable development. I will do my utmost to faithfully carry out this role."

On this day, President Lee Jaemyung nominated former lawmaker Lee, who served three terms in the National Assembly under the People Power Party's predecessors-the Grand National Party, Saenuri Party, and United Future Party-as the ministerial candidate for the Ministry of Planning and Budget, which will be launched on February 2. As she comes from a conservative party background, this appointment is considered the most unconventional cabinet selection since the launch of the Lee Jaemyung administration.

Born in Busan, Lee graduated from Masan Jeil Girls' High School and the Department of Economics at Seoul National University, and earned a Ph.D. in economics from UCLA in the United States. She established her reputation as a policy expert through positions at the Korea Development Institute (KDI), as well as serving as an advisor to the Blue House, the Ministry of Planning and Budget, the Prime Minister's Office, and the Ministry of Health and Welfare.

She made a high-profile entry into the National Assembly in 2004 as a female economist candidate for the Grand National Party. She was re-elected in the 18th National Assembly election in 2008 and returned to the National Assembly in the 20th election in 2016 as a member of the Saenuri Party, representing the Seocho-gap district of Seoul throughout. During the impeachment crisis of former President Park Geun-hye, she left the Saenuri Party and participated in the founding of the Bareun Party.

The Presidential Office explained the background of this appointment by stating, "She is highly skilled in both policy and practical affairs. Based on her philosophy of economic democratization, she has sponsored bills such as the Minimum Wage Act and the Interest Rate Limitation Act, and has promoted policies to eradicate unfair trade practices and revitalize people's livelihoods."

The office added, "Based on her many years of legislative experience, we believe she is the right person for the soon-to-be-launched Ministry of Planning and Budget to carefully establish the nation's mid- to long-term strategies and restore future growth engines."