SBS NEWS

Outgoing Deputy Prime Minister Koo Yun-cheol: "Without Strong Ministry of Finance and Economy, Policy Efficiency Falters"


Add SBS News to Google preferred sources
Main image - SBS News

▲ Koo Yun-cheol, Deputy Prime Minister and Minister of Finance and Economy, is applauded as he attends his final town hall meeting, which doubled as a farewell ceremony, at the Government Complex Sejong in Sejong City on September 18.

Deputy Prime Minister and Minister of Finance and Economy Koo Yun-cheol, ahead of his departure, urged staff members, saying, "If the Ministry of Finance and Economy collapses, the Republic of Korea collapses," and adding, "With that mindset, you should take pride in your work."

Deputy Prime Minister Koo made the remarks during his farewell ceremony held at the main auditorium of the Government Complex Sejong, attended by some 350 employees.

Koo was selected as the current administration's first economic chief, serving as the head of economic policy for one year and two months.

Vice Minister Lee Hyung-il, who has worked closely alongside him, was nominated as his successor and is awaiting appointment following confirmation hearings.

"When new innovations and changes arrive, you must become the protagonists," he emphasized, adding, "No matter which division you are in or what task you perform, starting with the question, 'Is there a way to do this differently?' is where innovation begins."

He also advised that initiatives detached from the field hold no meaning, regardless of how much effort is put into them.

Expressing his intention to focus on studying AI, in which he has maintained a regular interest, he stated, "I plan to study graphene."

Graphene is a carbon allotrope and a two-dimensional nanomaterial boasting extremely high physical and chemical stability, drawing expectations for applications in next-generation wearable devices and high-performance semiconductors.

Reflecting on his tenure, Deputy Prime Minister Koo shared, "My biggest regret is that I haven't been able to visit the field since the outbreak of the Middle East war last February." He recalled, "Before that, ministers used to gather to discuss special steels and showed strong drive to foster hyper-innovative economic items, and those times were much better."

He also shared his firm belief, stating, "While managing prices, exchange rates, and growth is critically important for the Ministry of Finance and Economy, efforts to determine how to make the South Korean economy great and to nurture industries to the point where successors to memory semiconductors can emerge are equally important."

Deputy Prime Minister Koo added, "We need to reduce trivial tasks, adopt an innovative mindset, read books, and study global trends of change. In particular, the sooner you receive AI training, the more advantageous it will be."

Prior to the farewell ceremony, Koo visited the press room and asked, "While individual ministries handle their own specific tasks, the Ministry of Finance and Economy performs overall coordination. Therefore, if the Ministry of Finance and Economy loses its strength, it is difficult to raise policy efficiency." He added, "Please give nominee Lee Hyung-il your strong support when he takes office."

(Photo: Yonhap News)

※ Please note: This article was translated by AI and may contain errors.
Copyright Ⓒ SBS & SBSi. All rights reserved.
Copying, redistribution, and unauthorized use in AI training are strictly prohibited.
Min Gyeongho View More Articles
AD
AD
AD
AD