Koo Yoon-cheol’s first year in office, weakened role as the economic control tower

Although Deputy Prime Minister and Minister of Finance and Economy Gu Yuncheol has marked his first anniversary in office, there are assessments that his central role in leading economic policy has become weaker than before. With the authority to draw up the budget transferred to the Planning and Budget Office earlier this year as part of the government reorganization, the Ministry of Finance and Economy's functions were reduced. In addition, as Kim Yongbeom, the presidential chief of staff for policy, often took the lead in major economic policy announcements, analysis suggests that the deputy prime minister's presence has diminished. The article also raised concerns that if responsibility for economic policy and coordination functions are divided among multiple bodies, the government's ability to drive policy forward could weaken. Deputy Prime Minister Gu stressed responding to key economic issues in the second half of the year and pushing forward policies with high public perception, but he did not separately disclose the achievements of the past year or the future direction of operations.