{
  "id": 7495990,
  "title": "Finance minister nominee sees 3% growth, $40,000 per capita income",
  "url": "https://urgent.news/2026/09/15/finance-minister-nominee-sees-3-growth-40-000-per-capita-income-7495990",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-15T07:12:03.000Z",
  "source": {
    "name": "The Korea Times",
    "slug": "the-korea-times-koreatimes",
    "url": "https://www.koreatimes.co.kr/economy/policy/20260915/finance-minister-nominee-sees-3-growth-40000-per-capita-income"
  },
  "original_language": "en",
  "account": "Lee Hyoung-il, the nominee for deputy prime minister and minister of finance and economy, confidently outlined Korea's economic potential during his confirmation hearing at the National Assembly, Tuesday. He projected that the nation could witness a 3 percent growth rate this year and reach a per capita income of over $40,000, driven by the flourishing semiconductor industry amidst the rising tide of artificial intelligence advancements. Speaking at the confirmation hearing, Lee, who presently serves as the first vice finance minister, highlighted how the semiconductor boom is propelling crucial economic metrics like exports and investment. He explained that domestic consumption and employment are anticipated to follow this growth trend after a short delay, making the prospect of a 3 percent economic growth rate in 2023 look increasingly realistic. This trajectory, according to Lee, will pave the way for per capita income to surpass the $40,000 mark. Lee emphasized his commitment to closely monitoring potential risk factors, including fluctuations in the semiconductor market, shifts in global interest rates, and capital movements, to ensure macroeconomic stability and curb market volatility. He also noted the recent monetary tightening measures by the Bank of Korea, particularly the consecutive interest rate hikes, and their implications for the economy.",
  "summary": "Lee Hyoung-il, nominee for deputy prime minister and minister of finance and economy, presented an optimistic economic outlook, Tuesday, forecasting that Korea could achieve 3 percent growth this year and cross the $40,000 threshold in per capita national income, fueled by a thriving semiconductor sector amid the ongoing artificial intelligence surge. During his confirmation hearing at the…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "The Korea Times",
        "title": "Finance minister nominee sees 3% growth, $40,000 per capita income",
        "url": "https://urgent.news/2026/09/15/finance-minister-nominee-sees-3-growth-40-000-per-capita-income",
        "published": "2026-09-15T07:02:03.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}