Seoul — South Korea’s presidential office on Wednesday named a new prime minister and finance minister, the highest-level shake-up since President Park Geun-hye’s administration was rocked by a scandal involving a friend accused of meddling in state affairs. But opposition parties denounced the reshuffle as a bid by Park to divert attention from the political crisis, which has dragged her approval rating to a record low. The Blue House named Financial Services Commission chairman Yim Jong-yong as finance minister and deputy prime minister. Yim, who replaces incumbent minister Yoo Il-ho, has been well-regarded by policy makers and market participants in his current role. Kim Byong-joon, a senior presidential secretary during former president Roh Moo-hyun’s administration, is expected to replace Hwang Kyo-ahn as prime minister. The prime minister’s role in South Korea is largely administrative and requires parliamentary approval. Kim initially scheduled a news conference but later cal...
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