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South Korea Vice Finance Minister Lee Hyoung-il named finance minister, Yonhap says

The reshuffle also filled defense, justice and other posts as President Lee Jae Myung broadened his economic team and advisory staff.

  • On Sunday, President Lee Jae Myung nominated Vice Finance Minister Lee Hyoung-il as minister of economy and finance in a cabinet reshuffle.
  • Presidential Chief of Staff Kang Hoon-sik announced the nominations during a briefing at Cheong Wa Dae, marking a significant restructuring of the administration's leadership.
  • The president also tapped Kang Shin-chul for defense and Rep. Kim Seung-won for justice, while Rep. Lee So-young will head the Ministry of SMEs and Startups.
  • Key staff appointments include Rep. Lee Hae-min as senior presidential secretary for AI future planning and Lee Won-ju as presidential secretary for megaprojects; Kim Kyoung-soo becomes special adviser to the president.
  • The reshuffle, announced after Friday's Youth Budget Unboxing event, positions new leadership across critical government sectors in South Korea.
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On the 30th, President Lee Jae-myung carried out his second cabinet reshuffle, nominating Kim Hyong-il, the current First Vice Minister of Finance and Economy, as the candidate for Deputy Prime Minister for Economic Affairs and Minister of Finance and Economy, and Rep. Kim Seung-won (Suwon-gap, Gyeonggi Province), a former judge, as the candidate for Minister of Justice. Kang Hoon-sik, Chief of Staff to the President, held a briefing at the Cheo…

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President Lee nominates Lee Hyung-il as candidate for Deputy Prime Minister for Economic Affairs and Minister of Finance and Economy

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South Korea names veteran technocrat Lee Hyoung-il as new finance chief in cabinet reshuffle

South Korea unveiled a major cabinet reshuffle on Sunday, naming First Vice Finance Minister ​Lee Hyoung-il as the new deputy prime minister ‌and minister of economy and finance.

·London, United Kingdom
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Al-Monitor broke the news in Washington, United States on Saturday, August 29, 2026.
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