If confirmed, 47-year-old Kim, who is a former provincial governor, would be the country's first prime minister under age 50 in four decades, said Yonhap news agency.

The shake-up also led to the replacement of seven ministers and two minister-level officials, Yonhap said.

His nomination is subject to a confirmation hearing by the National Assembly, the state media said.

Former PM Chung Un-chan resigned late last month after he failed to win parliamentary approval to stop relocation of government offices out of the capital, Seoul.

The failure was a major setback to Myung-bak’s government and a sign that his party is losing clout.

The president's Grand National Party has taken a beating in recent local elections, which analysts see as a referendum on his response to the sinking of a South Korean warship.