South Korea nominee vows to tame inflation, maintain economic momentum

During his first press meeting as nominee, Lee expressed confidence in the nation's economic recovery, projecting a 3% growth rate for the year, a level not seen in five years. He outlined plans to sustain this momentum through a 'three megaprojects initiative' aimed at fostering new growth engines via investments in semiconductors, artificial intelligence, and data centers. The nominee also committed to enhancing the investment climate for both domestic and international businesses by addressing challenges and easing regulations.

Regarding real estate, Lee affirmed the government's stance that housing should primarily serve as a place of residence rather than an investment vehicle. He also emphasized the importance of inter-ministerial coordination and communication with the presidential office to effectively manage key economic issues. Lee's nomination is subject to a confirmation hearing in the National Assembly.