A Well-rounded Ace Known for Both Competence and Character
Experience in Key Economic Policy Roles Under Progressive and Conservative Administrations
Hyungil Lee, the first vice minister of the Ministry of Strategy and Finance, nominated as Deputy Prime Minister and Minister of Strategy and Finance
On August 30, Hyungil Lee, the first vice minister of the Ministry of Strategy and Finance who was nominated as Deputy Prime Minister and Minister of Strategy and Finance, is a veteran economic bureaucrat who has held various key positions in fiscal and economic policy. He is recognized for his expertise in macroeconomics and finance, as well as for his experience working in major economic policy roles under both progressive and conservative administrations, which has given him a reputation for policy coordination and execution.
Born in Daegu, Lee graduated from Gyeongsang High School in Daegu and earned a degree in economics from Seoul National University. He later obtained a doctorate in economics from Texas A&M University in the United States. Lee entered public service after passing the 36th civil service exam and began his career at the Ministry of Finance in 1993. Following the Asian financial crisis, he worked at the Financial Policy Bureau of the Ministry of Strategy and Finance and on the Public Fund Oversight Committee, subsequently serving in the Ministry of Economy and Finance as Head of the Economic Analysis Division, Head of the General Policy Division, and Director General for Economic Policy.
During the Moon Jae-in administration, Lee served both at the Presidential Office and the Ministry of Economy and Finance, holding positions such as Senior Administrator of the Economic Affairs Office, Secretary for Economic Policy, and Director General for Economic Policy, as well as Assistant Minister. In the Yoon Suk-yeol administration, he was again appointed as Assistant Minister before moving to serve as Commissioner of Statistics Korea. Following the launch of the Lee Jaemyung administration, he has supported the current government’s economic policies as the first vice minister at both the Ministry of Economy and Finance and the Ministry of Strategy and Finance.
Lee’s extensive experience in serving twice as Assistant Minister at the Ministry of Economy and Finance under both progressive and conservative governments is considered a strong asset. With his substantial background in designing economic stimulus measures and economic policy direction on major policy teams, he is regarded as the right person to lead the economic policies of the Lee Jaemyung administration.
Within the organization, Lee is recognized not only for his competence but also for his gentle leadership style and communication skills. Former senior officials of the Ministry of Economy and Finance trust him, and current staff consider him a respected mentor. He was selected three times for the “Boss I Want to Emulate” award, annually chosen by staff, and was inducted into the ministry’s Hall of Fame. As Commissioner of Statistics Korea, he demonstrated a focus on work and efficiency over formalities, such as chairing an executive meeting immediately upon taking office without a formal inauguration ceremony.
The assets held by Lee and his spouse and children, according to the “2026 Regular Disclosure of Asset Changes for Public Officials” released by the Government Public Officials Ethics Committee in March, total KRW 2,381,800,000. This represents an increase of approximately KRW 439,360,000 compared to the previously reported KRW 1,942,430,000. In terms of real estate, Lee and his spouse each own an apartment in Burim-dong, Gwacheon-si, Gyeonggi-do, with a reported value of KRW 466,500,000 each. Lee also reported a leasehold right for an apartment in Sangdo-dong, Dongjak-gu, Seoul, valued at KRW 750,000,000. Their bank deposits total KRW 692,480,000, including KRW 236,740,000 held by Lee, KRW 197,290,000 held by his spouse, and approximately KRW 258,000,000 held jointly by their children. Lee was discharged from the Republic of Korea Air Force with the rank of first lieutenant.
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▲Daegu ▲Gyeongsang High School in Daegu, Department of Economics at Seoul National University ▲Ph.D. in Economics from Texas A&M University, USA ▲36th civil service exam ▲Director of Economic Education and Promotion, Ministry of Economy and Finance ▲Head of Money Market Division ▲Head of Economic Analysis Division ▲Head of General Policy Division ▲Director General for Economic Policy ▲Secretary for Economic Policy, Presidential Office ▲Assistant Minister, Ministry of Economy and Finance ▲Commissioner of Statistics Korea ▲First Vice Minister, Ministry of Economy and Finance and Ministry of Strategy and Finance
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