Prime Minister Han Duck-soo on Wednesday defended a reported nominee for the head of government policy coordination, citing his rich experience as an economic bureaucrat.

President Yoon Suk-yeol has been reportedly considering nominating Yoon Jong-won, chief executive of the state-run Industrial Bank of Korea, as the minister for the Office for Government Policy Coordination, which is in charge of assisting the prime minister.

The ruling People Power Party voiced opposition to his nomination because he worked for under then-President Moon Jae-in as a senior secretary for economy.

Asked about the ruling party's opposition, Han described Yoon as a "person of great experience," citing his long career at the finance ministry and a stint at the International Monetary Fund.

He is a seasoned bureaucrat who served various posts at the finance ministry after joining public service in 1984.

He also served as the country's ambassador to the Organization for Economic Development and Cooperation in 2015, before joining the Moon administration in 2018.

Han also welcomed Samsung Electronics' plan to invest 450 trillion won (US$355 billion) in semiconductor and bio science for the next five years.

South Korea's largest company made the announcement Tuesday as it seeks to further expand its business in future growth areas. The company said it will spend 360 trillion won, or 80 percent of the investment, for research and development, and talent nurturing in South Korea, especially in advanced chipmaking.

Han said the government is "encouraged" by such a massive investment plan as the government pledged to reform regulations for domestic companies to expand their investment in South Korea. (Yonhap)