The Lee Jae Myung administration has unveiled its government reorganization plan, which entails abolishing the prosecution and splitting the finance ministry. 

The presidential office, the government and the ruling Democratic Party announced the plan in a press briefing Sunday after a high-level policy coordination meeting at the prime minister’s official residence in central Seoul.

The plan will dissolve the prosecution service and replace it with new agencies — an indictment agency under the justice ministry and an agency under the interior ministry in charge of investigating serious crimes.

It will also split the roles of the Ministry of Economy and Finance, with its budgeting function to be transferred to a new planning and budget agency under the prime minister’s office.

The finance ministry will continue to oversee taxation, economic, financial and treasury policies.