Park Hong-geun, who was nominated to be South Korea's Minister of Planning and Budget, announced that he has decided to step back from his candidacy for the Seoul mayoral election to focus on national duties. On the morning of his nomination, he expressed his heavy responsibilities, indicating he had been preparing for the Seoul election but felt that serving the country came first. He emphasized the importance of a strategic function to reinforce the nation's transformation and mentioned that he would discuss additional budgets in collaboration with the Blue House and other ministries.

As he prepares for his new role, Park underscored the need for proactive financial roles amidst ongoing economic crises, asserting his commitment to ensuring maximum budget efficiency while eliminating wasteful expenditures. He remarked on the collaborative importance of fiscal management between the ruling and opposition parties, stressing that parliamentary scrutiny should not be overlooked and that budget processing should not solely be under the ruling party's control. He emphasized the importance of incorporating voices from the field to guide accurate budget allocation.

Park had initially stated his intention to run for Seoul Mayor ahead of the June local elections but decided to withdraw after his ministerial nomination on the 2nd. He concluded by reflecting on his commitment to contributing effectively to the government, indicating that his decision was made with the consideration of the nation's needs. He remains open to discussions about necessary supplementary budgets with relevant authorities in the future.