Lee Soyoung Nominated as Minister of SMEs and Startups; Will Startup and Small Business Policies Gain Momentum?

[Financial News] Democratic Party of Korea lawmaker Soyoung Lee has been nominated as the next minister of the Ministry of SMEs and Startups. With the ministerial post vacant for more than two months since former minister Han Seong-sook stepped down, attention is focused on whether the startup, small business, and venture policies the ministry has been pushing will gain momentum.
Kang Hoon-sik, Chief of Staff to the President, said at a briefing held on the 30th at the Chunchugwan Press Center at the Blue House that Lee had been nominated as the next minister of the Ministry of SMEs and Startups.
Kang said, "As a principled second-term lawmaker, the nominee has built broad policy experience ranging from innovative growth to everyday economic issues by actively advancing legislation to support startups and protect small business owners," adding, "Based on the capabilities she has accumulated and her exceptional drive, we expect her to successfully lead the shift to a national startup era and the fostering and support of small businesses."
Born in 1985, the nominee graduated from the law department at Sungkyunkwan University (SKKU) and passed the 51st bar exam in 2009. She later worked as a lawyer and at Kim & Chang.
She was brought into the Democratic Party of Korea in the 2020 general election as an expert in climate and environmental issues and entered the National Assembly. She won a second term in the 2024 general election.
Lee is regarded as a close ally of President Lee Jae Myung, having served as his on-site and campaign spokesperson during the 2022 presidential race and accompanied him to campaign events across the country. At the time, President Lee said of her, "Among the people who traveled with me in the field, she gives the most direct and realistic advice."
Meanwhile, the Ministry of SMEs and Startups has been operating under an acting minister system led by first vice minister No Yongseok since former minister Han Seong-sook stepped down on June 30. If Lee is appointed after going through the National Assembly confirmation process, she will become the seventh minister of the ministry.
[email protected] Kim Hyun-chul Reporter