South Korea's Budget Ministry Faces Leadership Shake-Up

South Korean President Lee Jae Myung withdrew his nomination of Lee Hye-hoon for head of the new budget ministry due to allegations of unlawful real estate investments and mistreatment of staff. The decision is part of a strategy to promote national unity with cross-party appointments.

South Korean President Lee Jae Myung has retracted his choice of Lee Hye-hoon as head of the freshly established budget ministry. This decision comes amid accusations of illegal real estate investments and staff mistreatment.

Lee Hye-hoon's appointment was initially seen as a move to bridge political divides by including figures from the conservative party. However, the allegations have led to withdrawal.

The budget ministry's acting vice minister, Lim Ki-Keun, will step in temporarily, with the search for a new leader potentially involving candidates from the conservative party once more.

(With inputs from agencies.)