South Korean President Lee Jae Myung has nominated seasoned bureaucrat Koo Yun-cheol as the country’s first finance minister under the new administration. Known for his deep expertise in fiscal policy and economic strategy, Koo is expected to play a pivotal role in advancing the Lee government’s ambitious growth and AI-driven economic transformation agenda.

At 60, Koo brings decades of public service experience, having held key roles at the Ministry of Economy and Finance, including Director-General of Fiscal Performance, Chief Budget Officer, and Second Vice Minister. He was instrumental in implementing expansionary fiscal policies between 2017 and 2020, including the historic 2020 national budget that exceeded 500 trillion won (US$367 billion).

Koo also managed the drafting of South Korea’s first two supplementary budgets to combat the COVID-19 crisis, earning a reputation for interagency coordination and crisis response.

The nomination signals the Lee administration’s commitment to “real growth,” with goals of achieving a 3% annual economic growth rate and strengthening South Korea’s position as a global leader in artificial intelligence and semiconductor technologies.

Koo has recently become a leading advocate for AI innovation in government policy. He authored AI Korea, a strategic proposal calling for expanded state support for AI research, workforce development, and industry transformation, which earned him the moniker “AI evangelist.”

“Given his extensive fiscal expertise and strategic vision, Koo is the ideal leader to guide South Korea’s economic transformation,” said Presidential Chief of Staff Kang Hoon-sik.

Koo studied economics and public administration at Seoul National University and has been teaching economics at his alma mater since 2022.