Overview
- Park assumed control of the newly created Ministry of Planning and Budget after the National Assembly committee approved his confirmation report one day earlier.
- In his inauguration remarks, he called for a “true control tower” for fiscal policy and said the government will prepare a supplementary budget to ease household costs linked to higher oil prices from the Middle East conflict.
- The ruling Democratic Party said it plans to pass the extra budget next month following President Lee Jae Myung’s instruction to move fast.
- Lawmakers from both the Democratic Party and the People Power Party praised his budgeting record during the hearing, and his asset disclosure listed about 623 million won across his family.
- The appointment follows the January launch of the ministry after the government split the Economy and Finance portfolio and the withdrawal of a previous nominee over alleged misconduct.