On October 2, the South Korean government officially nominated Park Hong-geun, a member of the Democratic Party, as the new Minister of the Ministry of Economy and Finance. This nomination comes 36 days after the previous appointee, Lee Hye-hoon from the People Power Party, resigned. Park is recognized as an expert in budget policies, having previously served as the Chairman of the National Assembly's Budget and Settlement Special Committee. He has a strong political background, having played important roles in the National Planning Commission and worked closely with President Yoon Seok-yeol during the 2022 presidential election campaign.

In addition to Park's nomination, Hwang Jong-woo has been appointed as the Minister for the Ministry of Oceans and Fisheries. Hwang has experience as the Director of Planning and Coordination at the ministry and is expected to lead initiatives related to the Arctic shipping routes and the development of Busan as a maritime capital. The nominations are part of President Yoon's broader strategy to fill ministerial positions and ensure a stable administration following a series of resignations and shifts within his cabinet.

President Yoon has also announced other appointments, including the Vice-Chairman of the Regulatory Reform Committee and the chairpersons of various councils, indicating a continuous effort to form a competent government team amid ongoing challenges. As political dynamics evolve, these nominations will be closely watched for their potential impacts on economic policy and maritime governance in South Korea.