South Korea’s president has named a new prime minister and finance minister, the highest-level shake-up yet since President Park Geun-hye’s administration was rocked by a scandal involving a friend accused of meddling in state affairs. Kim Byong-joon, a former senior presidential secretary during former president Roh Moo-hyun’s administration, was named the new prime minister to replace Hwang Kyo-ahn. The prime minister’s role in South Korea is largely administrative. Yim, who will replace minister Yoo Il-ho, has been well-regarded by policy makers and market participants in his current role. Neither incumbent Yoo and Hwang have been implicated in the scandal, although Yoo had been under pressure from opposition lawmakers over his close relationship with Park.

Source: The Guardian November 02, 2016 02:19 UTC