SEOUL (Reuters) -South Korea announced plans on Sunday to dismantle its prosecution service and strip the finance ministry of its power to prepare budgets, in a major overhaul of the system and ministries that will set up new bodies to handle such tasks.

The reform push is part of the efforts of President Lee Jae Myung, who said during his election campaign that some public agencies had too much power, although the moves have provoked backlash from some experts.

The government and ruling party will push to strip the finance ministry of its budget-making power in favour of a new government agency to draft annual budgets, Interior Minister Yun Ho-jung said, following a meeting of the two groups.

The changes aim at “better implementing key national agendas for the people and establishing a

See Full Page