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Lee Hyoung-il is deputy prime minister and minister of finance and economy.

He was born in Daegu on March 28, 1971.

He graduated from Gyeongsang High School in Daegu and Seoul National University with a degree in economics. He earned a Ph.D. in economics from Texas A&M University in the United States.

He entered public service after passing the 36th Higher Civil Service Examination. He worked at the Financial Policy Bureau of the Ministry of Finance and Economy and the Public Fund Oversight Committee.

During the Lee Myung-bak administration, he worked at the Office of the Secretary to the President for Economic and Financial Affairs before serving as director of the Financial Market Division, Economic Analysis Division and Economic Policy Division at the Ministry of Economy and Finance. He also worked as a senior economist at the International Bank for Reconstruction and Development (IBRD).

Under the Moon Jae-in administration, he served as senior administrative officer at the Office of the Secretary to the President for Economic Policy, director general for economic policy and deputy minister at the Ministry of Economy and Finance, before becoming secretary to the president for economic policy.

After the Yoon Suk-yeol administration took office, he returned to the Ministry of Economy and Finance as deputy minister and was appointed commissioner of Statistics Korea in 2023.

With the launch of the Lee Jae-myung administration, he was appointed first vice minister of economy and finance. When the Ministry of Finance and Economy was established through government reorganization in 2026, he became its inaugural first vice minister.

In September 2026, he became the first serving vice minister to be promoted directly to deputy prime minister and minister of finance and economy.

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