Lee bets on same economic playbook despite Cabinet reshuffle

President Lee Jae Myung is sticking with the same economic strategy following a Cabinet reshuffle, according to analysts. Career officials have been chosen to head the ministries in charge of economic and housing policies, according to reports on Monday. On Sunday, Lee nominated Lee Hyoung-il, who is currently the first vice finance minister, for the position of finance minister.

Hong Jee-sun, who holds the second vice minister position for land, infrastructure, and transport, is set to lead that ministry. These changes come as both economic and housing policies have drawn increasing public criticism. The removals of Finance Minister Koo Yun-cheol and Land Minister Kim Yoon-duk were seen as dismissals, with the public's opinion turning against the Lee government after the tax reform package and housing supply plans were released earlier in the month.

However, Lee's selection of replacements indicates that he aims to bolster, rather than completely change, his policy direction. The reshuffle of the economic policy team is primarily about maintaining the continuity of policies while delivering tangible results.