The Ministry of Planning and Budget held a signboard unveiling ceremony at Government Complex Sejong Building 5 on the 2nd and was officially launched. The Ministry of Planning and Budget had been integrated with the Ministry of Economy and Finance in 2008 and, after being split 18 years later, was launched again this year.
Prime Minister Kim Min-seok said at the ceremony that day, "The role and responsibility of the Ministry of Planning and Budget are heavier than ever," and "The Ministry of Planning and Budget will play a key role in state affairs, including establishing mid- to long-term national development strategies to respond to future social changes, budget formulation, fiscal policy, and fiscal management."
She added, "The public is watching with great expectations to see what changes the Ministry of Planning and Budget will bring," and "I hope policies trusted in the field will deliver results the public can feel, clearly showing the reason for the Ministry of Planning and Budget's existence."
Vice Minister Im Gi-geun of the Ministry of Planning and Budget said, "To build an ultra-innovative economy and create a warm community, the ministry will do everything it can," and "We will be an organization that looks far ahead yet acts with agility, and that thinks and devises ways to make things work rather than reasons they cannot."
The Ministry of Planning and Budget will be composed of the minister and vice minister, and three deputy ministers: the heads of the Future Strategy Planning Office, the Planning and Coordination Office, and the Budget Office. Lee Hye-hoon, a former lawmaker from the People Power Party, has been nominated as the first Minister and is preparing for a confirmation hearing.