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Wednesday, 02 November 2016 - 12:59
South Korea names new Prime Minister, Foreign Minister amid political scandal
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South Korea has appointed a new Prime Minister and Finance Minister, as an investigation continues over allegations President Park Geun-hye let her friend meddle with state affairs.

The moves, which also include a new Minister of Public Safety and Security, were seen as an effort to soothe public anger over the scandal involving Park's friend, Choi Soon-sil, who is in custody and under investigation by prosecutors.

The presidential office said it named Yim Jong-yong, the financial services commission chairman, as the new Finance Minister and Deputy Prime Minister.

He will replace incumbent minister, Yoo Il-ho, who has been well-regarded by policy makers and market participants in his current role.
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