Ex-opposition lawmaker tapped as Korea’s first budget minister

Former lawmaker Lee Hye-hoon (Yonhap)

President Lee Jae Myung has appointed former lawmaker Lee Hye-hoon as the country’s first budget minister, bringing an opposition figure into the new administration.

The presidential office said Sunday that Lee will lead the newly established Ministry of Planning and Budget, which will be launched next year as the government separates budget functions from the Ministry of Economy and Finance.

In a statement, Lee said she believes economic policy should transcend political divisions and pledged to devote her experience to revitalizing the economy and strengthening social cohesion.

A three-term lawmaker who served in the 17th, 18th and 20th National Assemblies, Lee was affiliated with conservative parties that preceded today’s People Power Party. She holds degrees from Seoul National University and the University of California, Los Angeles, and previously served on the Strategy and Finance Committee and the Special Committee on Budget and Accounts. She also worked as a research fellow at the Korea Development Institute.

“It is my long-held belief that the economy and people’s livelihoods are areas where we must come together beyond political divisions," she said in a statement. "I will devote my lifetime of experience to reviving the economy and fostering social cohesion."

The revived Budget Ministry, which will formally launch on Jan. 2, will operate under the prime minister’s supervision.

President Lee also named former lawmaker Kim Song-sik as vice chair of the National Economic Advisory Council, which advises the president on economic and development policies. Kim previously served on key budget and finance committees.

In additional appointments, Lee Kyung-soo, chairman of nuclear fusion startup Enable Fusion, was named vice chair of the National Science and Technology Advisory Council, while Kim Jong-gu, former head of food policy at the agriculture ministry, was appointed vice minister of land, infrastructure and transport. Rep. Cho Jung-sik was named special adviser for political affairs, and Lee Han-joo, head of the National Research Council for Economics, Humanities and Social Sciences, was appointed special adviser for policy.