South Korean president nominates new premier

South Korean President Lee Jae Myung has nominated his Cabinet member Han Seong-sook as the country's next prime minister, local media reported, citing a senior presidential official Sunday.

If confirmed by the National Assembly, Han, currently serving as the minister of small and medium-sized enterprises, would become South Korea's second female prime minister, Seoul-based Yonhap News reported.

Han Myeong-sook was the country's first female prime minister who served in the post in 2006-2007.

Incumbent Prime Minister Kim Min-seok, who served as the Lee administration's first prime minister, is stepping down, reportedly to run for the leadership of the ruling Democratic Party.

The reshuffle comes as the Lee administration marked its first year in office following the president's inauguration on June 4 last year.

The premier's office has reportedly formed a team in advance to help the prime minister nominee prepare for her parliamentary confirmation hearing.