SEOUL, South Korea (AP) — South Korea's new president has named a long-time shareholder rights advocate to lead the country's antitrust regulator.

The government announced Wednesday the appointment of Kim Sang-jo, an economist who has advocated for shareholder rights and reforming chaebol, the family-controlled big businesses that dominate South Korea.

The appointment is in keeping with President Moon Jae-in's pledges to reform the chaebol.