South Korea's presidential office on Wednesday named a new prime minister and finance minister, the highest-level shake-up since President Park Geun-hye's administration was first rocked by a scandal involving a friend accused of meddling in state affairs.

Opposition parties denounced the reshuffle as a bid by Park to divert attention from the crisis.

The Blue House named Financial Services Commission Chairman Yim Jong-Yong as finance minister and deputy prime minister. Yim, who replaces incumbent minister Yoo Il-ho, has been well-regarded in his current role.