Free Trial

Yoon Reshuffles Cabinet Replacing Six Ministers

SOUTH KOREA

South Korean President Yoon Suk-yeol replaced six ministers, including the Finance Minister, as part of the expected Cabinet reshuffle. This comes on the heels of a shake-up of Yoon's senior secretaries towards the back end of last week, which saw a BoK member become one of the President's chief aides.

  • Yoon tapped his former senior secretary for economic affairs Choi Sang-mok to become the new Finance Minister, while relieving the incumbent Choo Kyung-ho of his duties. Speculation is rife that Choo intends to run in the 2024 parliamentary election.
  • The President also replaced the Ministers of Patriots and Veterans Affairs, Agriculture, Food and Rural Affairs, SMEs and Startups, Oceans and Fisheries, as well as Land, Infrastructure and Transport.
  • Yonhap News Agency suggests that "another cabinet reshuffle is possible in the coming weeks, as Justice Minister Han Dong-hoon is considered a strong contender for parliament".

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.