The Ministry of Economy and Finance (Minister: Koo Yun Cheol) held an official inauguration ceremony on January 2 at the Government Complex-Sejong, marking a strong first step toward a new leap forward for the Korean economy.

Under the government reorganization, the Ministry of Economy and Finance (MOEF) will be responsible for the formulation and coordination of economic policies; the management of currency,

foreign exchange, the national treasury, government accounting, taxation, international finance, and oversight of public institutions; and the administration of matters related to economic cooperation

and state-owned properties. The Ministry of Planning and Budget, spun off from the former Ministry of Economy and Finance, will assume responsibility for the formulation of mid- to long-term

national strategies and fiscal policies; the preparation, execution, and performance management of budgets and funds; and matters related to private investment and national debt.

The event was organized to mark the launch of the new organization and to reaffirm the government’s commitment to making 2026 the inaugural year of a major leap forward for the Korean

economy.

In his inaugural address, Deputy Prime Minister Koo stated, “We face a challenging but imperative goal: achieving a rebound in potential growth and making this year the inaugural year of a major leap forward for the Korean economy,” adding that “while last year was a time focused on recovery, 2026 must become a pivotal year in driving full-fledged growth.”

He also underscored the need for MOEF to be recognized above all for its policy achievements, encouraging staff by saying, “Let us all work together, with a renewed sense of purpose in the new year, to open a new chapter for the future of MOEF.”

The event also featured a presentation on the mission and policy directions of MOEF. Amid a period of structural transition, these efforts aim to lead a major leap forward for the Korean economy by ensuring stable management of the macroeconomy and people’s livelihoods; rationally adjusting economic policies; operating an efficient and equitable tax system; strengthening strategic finance and external cooperation; proactively managing the national treasury; and promoting innovation in public institutions.

Please refer to the attached files.