President Lee Jae Myung nominated former three-term conservative lawmaker Lee Hye-hoon as the inaugural minister for the new Ministry of Planning and Budget on December 28, 2025. The nominee described the economy as facing a structural crisis and short-term 'perfect storm' the next day, pledging bold budgetary investments to support livelihoods. The ministry, set to launch in January under the prime minister's office, will handle budget allocation and mid- to long-term economic strategies.
On December 28, 2025, President Lee Jae Myung nominated Lee Hye-hoon, a veteran economist and former three-term lawmaker from the conservative camp, as the inaugural minister for the new Ministry of Planning and Budget. The ministry will be established under the prime minister's office as part of a government reorganization bill effective in January 2026. It will focus on budget allocation and mid- to long-term economic strategies, while the Ministry of Finance and Economy serves as the policy control tower.
Lee holds a bachelor's degree in economics from Seoul National University and a PhD in economics from UCLA. She began her career as a research fellow at the Korea Development Institute before entering politics, winning a parliamentary seat in Seoul's Seocho district in 2004. She served three terms in the National Assembly from 2004 to 2024, sitting on the Strategy and Finance Committee for her first two terms and chairing the intelligence committee in her third.
After the 2017 ouster of former President Park Geun-hye, Lee left the Saenuri Party and later headed the minor conservative Bareun Party. In 2021, she joined then-presidential candidate Yoon Suk Yeol's camp as chair of the special committee for national future strategy. She ran unsuccessfully for the Jung-Seongdong district in the April 2024 parliamentary elections on the People Power Party ticket and served as policy chief for conservative presidential candidate Kim Moon-soo in the April presidential election.
Lee led legislative efforts to amend the Minimum Wage Act, penalizing employers for paying below the legal minimum, and the Interest Limitation Act to cap loan interest rates. Presidential press secretary Lee Kyu-yeon stated, "Based on her years of legislative experience, the nominee is regarded as the right person to help the soon-to-be-launched ministry formulate the nation's mid- to long-term strategies and restore future growth engines."
On December 29, while heading to her office to prepare for her parliamentary confirmation hearing, Lee told reporters, "Our economy is confronting a structural and complex crisis that is eroding growth potential, and in the short term we are in a perfect storm." She highlighted structural challenges including the demographic crisis, climate change, widening inequality, rapid transformation in industry and technology, and regional population decline. Short-term pressures include high prices and a strong U.S. dollar.
"(The government) will eliminate unnecessary spending while making bold investments to support people's livelihoods and promote economic growth," she said, outlining a vision to transform taxpayers' money into future investments that enrich lives. Her nomination requires a parliamentary confirmation hearing, but the president can appoint her regardless of the outcome. The move aligns with the Lee administration's goals of achieving welfare and growth while pursuing sustainable development.
