Seoul: President Lee Jae Myung has appointed a former executive director of the International Monetary Fund (IMF) as the new vice finance minister, Cheong Wa Dae announced on Monday. Huh Chang, who has extensive experience in the finance ministry and at the IMF, has been named the second vice finance minister, as confirmed by presidential spokesperson Kang Yu-jung.

According to Yonhap News Agency, the second vice finance minister's role includes managing foreign exchange rates and overseeing foreign trade. This appointment is part of a broader strategy to enhance South Korea's financial stability and international economic relations.

In addition to Huh Chang's appointment, President Lee has also nominated Oh Tae-seog, the current president of the Korea Institute of Science and Technology Evaluation and Planning, as the administrator of the Korea AeroSpace Administration. Oh, who has a longstanding career in the bureaucratic sector, previously served as the first vice minister of science and ICT from 2022 to 2023. He also chaired a committee responsible for the launch of the homegrown Nuri space launch vehicle, as noted by spokesperson Kang.