President Moon Jae-in has nominated Hong Nam-ki, chief of the Office for Government Policy Coordination, as his new finance minister. 

He also named Kim Soo-hyun, senior presidential secretary for social affairs, as his new chief economic adviser.

Presidential press secretary Yoon Young-chan made the announcement in a briefing on Friday.

They would replace Finance Minister Kim Dong-yeon and Jang Ha-sung, who had been Moon's top economic policymakers since the beginning of his term.