Lee appoints senior trade official Park Jung-sung as new trade minister

President Lee Jae Myung recently named senior trade official Park Jung-sung as the new trade minister, as reported by a presidential spokesperson on Friday. This appointment comes at a crucial time, as Park will be leading the talks with Washington regarding South Korea's investment pledge to the United States. Park, who was previously the vice trade minister, assumes this role from Yeo Han-koo, who was dismissed last week due to unspecified reasons.

Notably, Park's appointment does not necessitate parliamentary approval or a confirmation hearing. The move follows what Seoul officials have described as significant advancements in the Seoul-Washington discussions on South Korea's strategic investment projects in the U.S. Further details on these talks are anticipated to be revealed next month.

The two nations are presently negotiating their inaugural investment project under South Korea's $350 billion investment commitment, announced last year within the context of a trade agreement with the U.S. Park is a seasoned official with extensive experience in trade affairs, having held key trade-related positions at the Ministry of Trade, Industry and Resources, according to Cheong Wa.