SEOUL, Dec. 30 (Yonhap) -- President Lee Myung-bak named a veteran economist as trade minister on Friday, an official said, as the country's free trade agreement with the United States is set to take effect early next year.

In a minor Cabinet reshuffle, Bark Tae-ho, a professor of the Graduate School of International Studies at Seoul National University, will replace Kim Jong-hoon as trade minister, the official at the presidential office said.

The U.S. Congress passed the free trade deal, signed in 2007, in October and South Korea's National Assembly followed suit last month.

Lee also appointed Seo Pil-eon as vice minister of the Minister of Public Administration and Security and Lee Hee-sung as head of the nation's food and drug safety agency.