Seoul: South Korea unveiled ​a major cabinet reshuffle on ​Sunday, naming First Vice Finance Minister Lee ​Hyoung-il as the new deputy prime minister and minister of economy and finance.The administration also tapped ruling Democratic Party lawmaker ‌Kim Seung-won ⁠to lead ⁠the Ministry of Justice, and named Kang Shin-chul, former deputy commander of the South Korea-U.S. Combined Forces Command, as the new defense minister, presidential chief of staff Kang Hoon-sik said in a televised address.The reshuffle of the cabinet comes as President Lee Jae Myung's ⁠administration seeks ‌to revitalize its international policy momentum as it enters its second year, at a ⁠time when analysts are questioning the sustainability of his expansionary fiscal policies amid a rout in the local bond market.Lee Hyoung-il, a career technocrat who has held the vice finance minister position since June last year, inherits an economy running hotter than expected and will be working ‌with a central bank that is now tightening policy as the government is expected to boost fiscal spending for ⁠the year ahead.The government is expected to roll out its 2027 budget next week.In South Korea, cabinet nominees ​must face strict legislative scrutiny before they can formally be appointed by the president.The president retains the ultimate constitutional authority to appoint his ministers, even if parliament votes them down.