South Korean President Names New Finance Minister
- 8 years ago
South Korean President Park Geun-hye on Monday named former transportation minister and incumbent lawmaker Yoo Il-ho as her new finance minister in a partial cabinet reshuffle, heralding no major policy shift in Asia's fourth-largest economy.
Mr. Yoo, 60, a two-term lawmaker of President Park's ruling party, will succeed Choi Kyung-hwan, who has been in office since June 2014.
Mr. Choi is said to be standing down to run for parliamentary elections next year.
The presidential office in a statement described Mr. Yoo as “the right person to push for invigorating the economy” in line with the government’s policy.
He stood down as transportation minister in November.
Mr. Yoo, 60, a two-term lawmaker of President Park's ruling party, will succeed Choi Kyung-hwan, who has been in office since June 2014.
Mr. Choi is said to be standing down to run for parliamentary elections next year.
The presidential office in a statement described Mr. Yoo as “the right person to push for invigorating the economy” in line with the government’s policy.
He stood down as transportation minister in November.