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Profiles Lee Hye-hoon poised to take control of South Korea’s new budget ministryFormer conservative lawmaker with deep fiscal credentials tapped to step into powerful role to reshape state spending President Lee Jae Myung’s decision to nominate Lee Hye-hoon as the inaugural head of South Korea’s new Ministry of Planning and Budget (MPB) marks a substantive reallocation of fiscal authority. By removing budget planning from the Ministry of Economy and Finance (MOEF) and placing it under a standalone body reporting to the prime minister’s office, the administration has elevated budget coordination to a central instrument of state strategy. Control over medium- and long-term fiscal planning, inter-ministerial allocation and supplementary budget design now rests with a new institution whose influence will extend across the entire policy apparatus. Against that backdrop, Lee © Korea Risk Group. All rights reserved. |





