South Korean President Lee Myung-bak will likely replace three to four Cabinet ministers, including his finance minister who has come under heavy criticism for ongoing economic woes, Yonhap News reported quoting a ruling party official Monday.
"I heard there will be a minor Cabinet reshuffle, involving economy-related ministries, later today," Park Hee-tae, head of the ruling Grand National Party (GNP), was quoted as saying.
The remarks came shortly after Park returned from a meeting with President Lee at the presidential office of Cheong Wa Dae.
A reshuffle had long been expected amid widespread criticism of several incumbent ministers, widely blamed for failing to forecast the economic downturn and adopting 'misguided' policies.
The prospects of a Cabinet shakeup significantly increased over the weekend as Cheong Wa Dae reshuffled chiefs of top intelligence and policy agencies.
Observers earlier noted Minister of Knowledge Economy Lee Youn-ho and Unification Minister Kim Ha-joong will likely be replaced when there is a shakeup.
Lee, a career administrator, has been held accountable with the finance minister for the nation's economic difficulties while the unification minister is said to have fallen out of the president's favor amid the worsening inter-Korean relations.
North Korea Saturday said its armed forces are now "compelled to take an all-out confrontational posture" against the South, claiming the Seoul government has opted for confrontation instead of reconciliation.