Home > Business > Tech

Finance minister nominee says will form project team for 'ultra-innovation items' in AI era

Published: 17 Jul. 2025, 18:14

Finance Minister nominee Koo Yun-cheol speaks to reporters in a press conference held shortly after his nomination was announced by the presidential office on June 29. [YONHAP]

Finance Minister nominee Koo Yun-cheol vowed Thursday to assemble a team of top experts to develop "ultra-innovative" items as part of efforts to create a new engine for economic growth.

Koo made the pledge during his parliamentary confirmation hearing while highlighting weak growth potential as the country's most pressing challenge amid demographic shifts and other structural issues.

"For the artificial intelligence-driven great transformation and ultra-innovative economy to achieve meaningful results, we should identify specific core items and concentrate all national capabilities on them to produce a greater number of world-class products and services," the nominee said.

"We will bring together the nation's top experts to create a project team dedicated to such ultra-innovative items and provide all tangible and intangible resources to support it," he added.

For that goal, Koo emphasized the importance of strengthening economic fundamentals and stabilizing the people's livelihoods, calling for efforts to ensure price stability and to boost domestic demand through the swift implementation of supplementary budgets.

The nominee also pledged to actively manage external risks, such as tariff negotiations with the United States, and to respond proactively to demographic challenges, including the low birth rate and population aging.

If appointed, Koo will become the first finance minister under the new Lee Jae Myung administration.

Yonhap