Koo Yoon-cheol, the Deputy Prime Minister and Minister of Economy and Finance, emphasized the need to foster new industries to lead the South Korean economy as he stepped down on September 18. He urged staff to focus on field-oriented policies and innovation.
During his farewell ceremony held at the Government Sejong Center, attended by over 350 employees, Koo stated, "If the Ministry of Economy and Finance collapses, South Korea collapses. You should take pride in that thought."
Appointed as the first economic deputy prime minister of the current administration, Koo oversaw economic policy for one year and two months. His successor, Lee Hyung-il, the first vice minister of the Ministry of Economy and Finance, has been nominated and is awaiting confirmation from the National Assembly.
Koo highlighted that securing future growth engines for the South Korean economy is a key task for the ministry. He remarked, "While managing prices, exchange rates, and growth is very important, it is also crucial to consider how to make the South Korean economy great and to cultivate industries to the extent that we can produce successors to memory semiconductors."
Reflecting on his tenure, Koo expressed disappointment over the inability to visit sites since the outbreak of the Middle East war. He noted, "The most regrettable thing is that I couldn't visit the field since the war broke out in February. Before the war, I was very eager to foster industries related to super-innovation economy with the ministers of various departments."
Koo urged employees to change their working methods, stating, "When new innovations and changes come, you must be the protagonists. Regardless of your department or job, start with the question, 'Is there a different way to do this?' That is innovation." He added, "Being disconnected from the field is meaningless, no matter how much effort you put in."
He also stressed the importance of learning to respond to global economic and technological changes. Koo advised that maintaining innovative thinking and continuing to read and study is essential, particularly emphasizing the advantages of receiving AI education as soon as possible.
Regarding his future plans after retirement, Koo expressed his intention to study graphene, stating, "I plan to explore graphene as my area of expertise." Graphene is a two-dimensional nanomaterial made of carbon, expected to be utilized in next-generation semiconductors and wearable devices.
* This article has been translated by AI.
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