The Democratic Party of Korea, the government, and the Presidential Office (the party-government meeting) have confirmed plans to abolish the prosecution service and establish a public prosecution office under the Ministry of Justice and a serious crime investigation agency under the Ministry of the Interior and Safety. The Ministry of Economy and Finance will also be separated into the Vice Minister's subordination of the Ministry of Finance and the Prime Minister's Office under the Planning and Budget Ministry. The Financial Services Commission will transfer domestic financial functions to the Ministry of Finance and will be reorganized into the Financial Supervisory Commission.
Minister Yoon Ho-jung held a briefing at the Government Seoul Building after finishing the high-level party-government council on the afternoon of the 7th, saying, "The government reorganization is the first step to implement core national tasks that the people want and to support new government national objectives," adding, "The goal is to streamline government department functions and build a foundation to address complex issues such as climate crisis and AI (artificial intelligence) transformation."
With this reorganization, the government will change from the current '19 ministries, 3 offices, 20 agencies, and 6 commissions' to '19 ministries, 6 offices, 19 agencies, and 6 commissions.' The reorganization plan includes ▲ separation and reorganization of the Ministry of Economy and Finance ▲ unification of financial policy and establishment of the Financial Supervisory Commission ▲ establishment of the Ministry of Climate, Energy and Environment ▲ establishment of the Broadcasting, Media and Communication Commission ▲ separation of prosecution investigation and prosecution ▲ reorganization of artificial intelligence governance ▲ establishment of an assistant minister dedicated to small business and venture enterprises in the Ministry of Small and Medium-sized Enterprises and Startups ▲ elevation of the Industrial Safety and Health Agency under the Ministry of Employment and Labor to the Vice Minister level ▲ reorganization of the National Data Agency (upgraded from the Statistics Korea) ▲ expansion and reorganization of the Ministry of Gender Equality and Family ▲ reorganization of the Korean Intellectual Property Office (upgraded from the Korean Intellectual Property Office), totaling 11.
The prosecution reforms that the Democratic Party has pursued so far have been organized by placing the public prosecution office under the Ministry of Justice and the serious crime investigation agency under the Ministry of the Interior and Safety. The public prosecution office will handle prosecution initiation and maintenance, while the serious crime investigation agency will be responsible for investigations into major crimes. The government plans to establish a 'government-wide task force for prosecution reform' under the Prime Minister's Office and derive detailed plans through party-government consultations.
The Ministry of Economy and Finance will be separated into the Planning and Budget Ministry under the Prime Minister's Office, which is responsible for balanced budget formation, and the Ministry of Finance, which oversees economic policies and taxation. The Minister of the Planning and Budget Ministry will be appointed as a State Council member, while the Minister of Finance will concurrently serve as the Vice Minister of Economy.
The Financial Services Commission will be reorganized into the Financial Supervisory Commission following the establishment of the Ministry of Finance. The government explained that it will transfer domestic financial functions to the Ministry of Finance to enhance the consistency of domestic and international financial policies. The Financial Supervisory Commission will include the Securities and Futures Commission and the Financial Consumer Protection Commission. Additionally, the Financial Consumer Protection Agency will be separated from the Financial Supervisory Service.
The Ministry of Climate, Energy and Environment will be newly established by merging the energy functions of the former Ministry of Environment with the Ministry of Trade, Industry and Energy. The name of the Ministry of Trade, Industry and Energy will be changed to 'Ministry of Trade and Industry.' However, the resource industry and nuclear power export functions will remain within the Ministry. The climate response fund and green climate fund that were managed by the Ministry of Economy and Finance will also be transferred to the Ministry of Climate, Energy and Environment to unify financial resource management.
Additionally, to unify broadcasting policies, the Korea Communications Commission will be abolished, and the Broadcasting, Media and Communication Commission will be newly established. The number of commissioners on the Broadcasting, Media and Communication Commission will be reorganized from the existing 5 full-time commissioners to '3 full-time and 4 part-time'. The Ministry of Science and ICT will strengthen AI governance by having the Minister concurrently serve as the Vice Minister of Science and Technology. The social vice minister, concurrently held by the Minister of Education, will be abolished due to low effectiveness.
In the Ministry of Small and Medium-sized Enterprises and Startups, a second Vice Minister dedicated to small business policies will be newly established, while the Ministry of Employment and Labor will elevate the Industrial Safety and Health Agency to the Vice Minister level. The Statistics Korea will become the National Data Agency, and the Korean Intellectual Property Office will be elevated to the Korean Intellectual Property Office. Both agencies are under the Prime Minister's Office. The Ministry of Gender Equality and Family will be reorganized into the Ministry of Gender Equality and Family to strengthen gender equality policies.
Minister Yoon said, "This reorganization is expected to take effect immediately after the amendment of the government organization law and other legal provisions is announced," adding, "However, considering the National Assembly's review schedule for next year's budget, the reorganization of the Planning and Budget Ministry, Ministry of Finance, and Financial Supervisory Commission will take effect from January 2 next year, and the establishment of the public prosecution office and serious crime investigation agency will be planned to take effect one year after the legal amendment is announced, considering the preparation period for detailed reorganization plans."