On May 19, President of ROK Kim Dae-jung formally accepted Prime Minister Park Tae-joon's resignation, our staff correspondent reported from Seoul.
At a press conference, a spokesman for Chong Wa Dae said that a successor would be appointed at the beginning of next week and in the interim, Lee Hun-jae, the Finance and Economy Minister, would act as prime minister.
The prime minister's resignation came after a local court ruled that Park had evaded taxes by registering properties, purchased between 1988 and 1993 under the name of his personal treasurer.