Lee bets on same economic playbook despite Cabinet reshuffle

President Lee Jae Myung is sticking to the same economic strategy following a Cabinet reshuffle, with officials from his administration selected to head the ministries responsible for economic and housing affairs, according to analysts. On Sunday, Lee appointed Lee Hyoung-il, the current first vice finance minister, as his nominee for the finance ministry, and Hong Jee-sun, the second vice minister of land, infrastructure, and transport, to lead the latter ministry.

These two individuals were among six new ministerial nominees announced in the reshuffle. The changes come as economic and housing policies have been drawing increasing public criticism. The dismissals of Finance Minister Koo Yun-cheol and Land Minister Kim Yoon-duk were seen as official reprimands, with public opinion turning against the Lee administration following the introduction of the tax reform package and housing supply plans earlier this month.

However, Lee's selection of replacements indicates that he aims to strengthen rather than disrupt his existing policy direction. The reshuffle of the economic policy team appears to be focused on maintaining consistency in policy while delivering practical results.