By Kwanwoo Jun
South Korean President Yoon Suk Yeol has named his top economic aide, Choi Sang-mok, as the new finance minister in a cabinet shuffle that will affect six ministers.
The 60-year-old former senior presidential secretary for economic affairs will replace Finance Minister Choo Kyung-ho, who has served the Yoon administration since its inauguration in May 2022, the presidential office said Monday.
Market analysts don't expect any major policy changes from the planned replacement of finance ministers.
The country heads for parliamentary elections in April 2024.
Some outgoing cabinet ministers, including Choo, are widely expected to run for the general elections.
Yoon and his governing party seek to regain control of the opposition-led legislature.
Approval ratings for Yoon and his party are hovering at around 30%, the latest Gallup Korea polls showed.
Write to Kwanwoo Jun at kwanwoo.jun@wsj.com
(END) Dow Jones Newswires
12-04-23 0500ET
