Key facts
- South Korean Finance Minister Koo Yun-cheol canceled his planned trip to the U.S. for a G20 meeting.
- Vice Finance Minister Lee Hyoung-il has been nominated as the new finance minister.
- The reshuffle involved six ministerial nominations, including defense, land, justice, gender equality, and SMEs ministers.
South Korean Finance Minister Koo Yun-cheol canceled his planned trip to the United States to attend an upcoming Group of 20 (G20) meeting without providing a reason. Koo had arrived at Incheon International Airport to depart for the G20 Finance Ministers and Central Bank Governors Meeting, scheduled for Monday in Asheville, North Carolina, but canceled his travel. In a subsequent cabinet reshuffle announced on Sunday, President Lee Jae Myung nominated Vice Finance Minister Lee Hyoung-il as the new finance minister. The reshuffle also included nominations for five other ministerial positions: former deputy commander of the South Korea-U.S. Combined Forces Command Kang Shin-chul as the new defense minister, Vice Land Minister Hong Jee-sun as the new land minister, ruling party lawmaker Kim Seung-won as the new justice minister, minor party lawmaker Yong Hye-in as the new gender equality minister, and ruling party lawmaker Lee So-young as the minister for small and medium-sized enterprises. Presidential chief of staff Kang Hoon-sik announced the changes at a press briefing.