Finance minister nominee names inflation control top mission
Lee Hyoung-il, nominee for deputy prime minister and minister of finance and economy, vowed to make price stability a top priority Wednesday, calling grocery prices a key gauge of the economic team’s performance. “Price stability is the foundation of people’s livelihoods and the starting point for narrowing economic polarization,” Lee, currently the first vice finance minister, said during a…
Lee Hyoung-il, the nominee for deputy prime minister and minister of finance and economy, expressed his commitment to making price stability the top priority in his new role. He emphasized that grocery prices serve as a crucial indicator of the economic team's performance. During a press briefing, he stressed that price stability forms the bedrock of people's livelihoods and lays the groundwork for addressing economic inequality.
The finance minister-elect highlighted that high prices disproportionately burden vulnerable groups, making inflation control the paramount responsibility of economic authorities.
Lee also announced his intention to introduce further measures to regulate the prices of essential items during the upcoming Chuseok holiday. This pledge followed the government's decision to release a substantial amount of Chuseok food staples, amounting to 180,000 tons, along with 100 billion won in discounts on agricultural, livestock, and fishery products.
During a Cabinet meeting on the same day, President Lee Jae Myung further underscored the importance of monitoring prices, jokingly threatening to withdraw the nominee's candidacy if price control measures were not effectively implemented.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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