South Korea PM to retain Yoo Il-ho as finance minister: Yonhap

FILE PHOTO - South Korea's new finance minister Yoo Il-ho (C) gets a briefing in front of a car carrier during his visits to a port in Pyeongtaek, South Korea, January 15, 2016. REUTERS/Kim Hong-Ji

SEOUL (Reuters) - South Korea’s prime minister is expected to keep incumbent Finance Minister Yoo Il-ho for policy continuity, Yonhap News reported on Monday citing an official from the PM’s office, instead of replacing him with Yim Jong-yong, current head of the financial regulator.

In early November, Yim was designated as the next finance minister by President Park Geun-hye, who handed over her power to Prime Minister Hwang Kyo-ahn following her impeachment by parliament on Friday.

Reporting by Christine Kim; Editing by Richard Borsuk