Lee names Koo finance minister, makes other picks

South Korea needs to take measures to support its economy in the short term as it continues tariff talks with the US, its likely new finance minister Koo Yun-cheol said on Sunday after being nominated for the role by President Lee Jae Myung.

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Koo, a former vice finance minister, still needs to go through parliament hearings before being confirmed as finance minister. Other ministerial appointments were also announced by the president's office on Sunday.

“We need to take pre-emptive measures and prepare for situations such as the current tariff negotiations with the United States,” Koo told a press conference.

“Through this process, we plan to actively and proactively respond to the difficulties that the South Korean economy faces in the short term,” he said.