Hyungil Lee Plans South Korea Finance Minister Nomination

South Korea is undergoing a cabinet reshuffle with multiple nominations and appointments aimed at stabilizing economic policy and boosting entrepreneurship. Hyungil Lee, a veteran macroeconomist, was nominated to serve as Deputy Prime Minister and Finance Minister, signaling continuity in the government’s economic policy direction. Democratic Party lawmaker Lee So-young was named to lead the SMEs and startups ministry, with the post previously vacant for 61 days, and she is expected to steer policies to support startups and small businesses. Former ROK-US Combined Forces Command Deputy Commander Kang Shincheol was nominated as Minister of National Defense, reflecting a shift in defense leadership. Lee Hyung-il was nominated as acting Minister of Economy and Finance, emphasizing policy continuity amid global uncertainties, while Hong Jisun was appointed Minister of Land and Lee Soyoung was named Minister of SMEs, completing key leadership changes within the administration. These moves come as the government seeks to address inflation, SME support, and a transition to AI-driven economic policy across ministries.