South Korea's presidential office on Wednesday named a new prime minister and finance minister, the highest-level shake-up yet since President Park Geun-hye's administration was rocked by a scandal involving a friend accused of meddling in state affairs.
But the reshuffle quickly provoked anger from opposition parties saying Park was trying to divert attention from the political crisis, which has dragged her approval rating to an all-time low.
The Blue House named Financial Services Commission chairman Yim Jong-yong as finance minister and deputy prime minister. Yim, who will replace 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, was named the new prime minister to replace Hwang Kyo-ahn. The prime minister's role in South Korea is largely administrative.
The late Roh was from a liberal party that rivaled the conservative predecessor to Park's conservative Saenuri Party, and naming Kim appears intended to placate the opposition.
South Korean stocks and the won currency were unmoved by the news.