President Park Geun-hye nominated a former state arms procurement agency chief to be the new head of South Korea's antitrust watchdog, the presidential office said Saturday.

The nomination of Noh Dae-lae as Fair Trade Commission chief came days after Park's earlier choice for the job resigned amid allegations that he has been holding secret overseas bank accounts to evade taxes.

Noh, 57, is an economic technocrat who had worked in various posts at the finance ministry since 1979 before serving as chief of the Defense Acquisition Program Administration from 2011 until earlier this month.

His nomination is subject to a parliament confirmation hearing though approval is not necessary for him to assume the post. (Yonhap News)