The South Korean National Assembly (parliament) on January 13 afternoon ratified President Kim Dae-jung's nomination of Park Tae-joon as prime minister.

Of the 279 votes cast, 174 were for the new prime minister and 100 were against, with five abstentions and two invalid votes.

Park, who will be sworn into office late Thursday, is the head of the South Korean ruling coalition partner United Liberal Democrats (ULD)

Park replaced Kim Jong-pil, who had resigned to return to the ULD to manage the party's race for the forthcoming general elections scheduled for April this year.

President Kim Dae-jung spoke highly of Park's outstanding management ability and profound achievements in economy, saying that Park will continue to push for economic reform in South Korea.

Park, 72, founded the South Korean Pohang Iron and Steel Co. (POSCO) in 1968 and successfully managed the state-run company until 1993. POSCO is the world's largest steel producer. (Xinhua)