South Korea's Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol concluded his 14-month tenure at a farewell ceremony at the Government Complex Sejong on the 18th. Addressing about 350 staff members, he urged them to take pride in coordinating national economic policy and emphasized innovation, field engagement and the need to develop industries that can follow memory semiconductors. Koo said his biggest regret was failing to sufficiently cultivate world-class industries in the hyper-innovation economy, particularly after investment issues involving the United States and the outbreak of the Middle East war in February limited his field activities. He also cited delayed progress on power semiconductors. Koo said he plans to continue visiting companies and studying artificial intelligence and graphene in the private sector. First Vice Minister Lee Hyung-il has been nominated as his successor and is awaiting appointment after a parliamentary confirmation hearing.