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Here's a closer look at the outgoing South Korean Prime Minister Chung Un-Chan.
The 62-year old was born in Gongju, in South Korea. He studied at Seoul University, and majored in economics.
After receiving a master degree and later a Ph.D in the United States, he went back to Seoul and become the school master of Seoul University.
He is a well-known economist. Chung took office last September and was considered a revolutionary leader.
He expressed his intention to resign several times to President Lee Myung-bak, following the ruling party's defeat in local election last month.