Deputy Prime Minister and Finance and Economy Minister Lee Hyoung-il held a meeting on economic issues with the newly formed economic team and presidential aides following a cabinet reshuffle.
Lee discussed plans to advance three core social policies covering housing, jobs and financial support for lower-income households at the meeting, which began at 5 p.m. on the 5th, the Ministry of Finance and Economy said.
Government participants included Lee, Interior and Safety Minister Yoon Ho-jung, Health and Welfare Minister Jung Eun-kyeong, Employment and Labor Minister Kim Young-hoon, Land, Infrastructure and Transport Minister Hong Ji-sun, SMEs and Startups Minister Lee So-young, Economy and Finance Planning Minister Park Hong-keun and Financial Services Commission Chairman Lee Eok-won.
From the presidential office, attendees included Policy Chief Ha Joon-kyung, Senior Secretary for Public Engagement Jeon Seong-hwan, Senior Secretary for Economic Growth Moon Shin-hak, Senior Secretary for Social Affairs Kim Kyung-ja, Senior Secretary for AI and Future Planning Lee Hae-min and Fiscal Planning Adviser Ryu Duk-hyun.
The gathering is seen as a follow-up to President Lee Jae-myung's earlier remarks that the government would push the three core social policies, in which he said available resources and policy tools, including excess tax revenue, should be actively used to ease polarization and inequality, which he called the key drivers of economic insecurity for ordinary households. On the same day, the president said on the social media platform X, formerly Twitter, that the government would use excess tax revenue to supply large volumes of long-term public rental housing for young adults and middle-income households at an early date.
The ministry said it plans to finalize detailed tasks and plans for using the excess tax revenue through further consultations among ministries and by gathering views from various sectors, based on the discussions.
