Lee carries out vice-ministerial level reshuffle

South Korean President Lee Myung-bak named a veteran economic official on budget affairs as the country's vice finance minister on Sunday in a minor reshuffle that also replaced three other vice ministers.

Kim Dong-yeon, 55, a senior finance ministry official in charge of budget affairs, was tapped as the second vice minister for the Ministry of Strategy and Finance, according to the presidential office Cheong Wa Dae.

Since 1982, Kim has served as a public servant with expertise on budget affairs.

The reshuffle came as the South Korean economy is slowing down amid heightened economic uncertainty stemming from the eurozone debt crisis and bleak global outlooks.

The government said earlier it would frontload 60 percent of this year's budget in the first half of the year in an effort to boost the economy.

Asia's fourth-largest economy is expected to grow 3.7 percent this year, easing from the 3.8 percent growth estimated for last year, according to the central bank.

President Lee also promoted Lee Sang-Jin, 54, a senior official of personnel affairs at the education ministry, to the first vice minister for the Ministry of Education, Science and Technology.

Kim Yong-hwan, a presidential aide, was tapped to serve as the second vice minister for the Ministry of Culture, Sports and Tourism. Lee appointed Joo Sung-ho, 55, a senior official at the transportation ministry, as the second vice minister for the Ministry of Land, Transport and Maritime Affairs, according to the presidential office. (Yonhap News)