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South Korea undergoes ministerial overhaul
South Korea has announced a wide-ranging ministerial overhaul, including the appointment of Lee Hyung-il as Deputy Prime Minister and Minister of Economy and Finance, Kim Seong-woon as Minister of Justice, and Kang Shin-chul as the new Minister of Defense. This revision comes at a time when the government is seeking to revitalize its international policies amid doubts about the sustainability of expansionary fiscal policies and the collapse of the local bond market. The government is expected to soon present its budget for 2027, and all ministerial candidates will undergo strict legislative scrutiny, with the president retaining the final authority to appoint ministers.
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