President Moon Jae-in has appointed former head of the Korean Intellectual Property Office(KIPO) Park Won-joo the new senior presidential economic secretary.

The top office made the announcement Thursday, expressing hope that Park will make prompt adjustments to the rapidly changing economic environment that are needed to successfully complete the economic tasks of the Moon administration.

In addition to heading KIPO, Park is a veteran economic bureaucrat with ample experience in industrial and energy policies.

Park will replace An Il-hwan, who reportedly tendered his resignation in September due to health reasons.