Seoul: Koo Yun-cheol, nominated as the first finance minister under President Lee Jae Myung, pledged to implement an "economic revolution" centered around fostering new growth engines such as artificial intelligence (AI). "I will push forward a bold economic revolution for genuine growth," Koo told reporters shortly after his nomination, highlighting external risks like global tariff wars and technological hegemony, along with internal structural challenges such as low growth and polarization.
According to Yonhap News Agency, Koo outlined his vision by stating that his core philosophy is to manage the country's economy as if it were a corporation, where the real shareholders are the citizens of the Republic of Korea. He stressed the necessity of investing in new growth engines, including AI, and promised to create an inclusive system allowing all citizens to participate in and benefit from national economic development.
Koo expressed his commitment to fostering a virtuous cycle of national development and public happiness. The 60-year-old nominee is a seasoned economic policymaker with extensive experience in key roles within the Ministry of Economy and Finance. His previous positions include director general of fiscal performance, chief budget officer, and second vice minister.
Koo significantly contributed to the government's expansionary fiscal policies from 2017 to 2020 during his tenure as budget chief and later as second vice finance minister.