Prime Minister Chung Un-chan bows before announcing his resignation at the Central Government Complex in Seoul on Thursday.

Prime Minister Chung Un-chan on Thursday tendered his resignation, a mere 10 months after he was sworn in as the second PM of the Lee Myung-bak administration on Sept. 29 last year.

Reading a prepared statement at the Central Government Complex in Seoul, Chung said, "As a responsible servant of the state, I believe this is my last chance to resign." Commenting on why he stayed in his post despite offering to resign several times since the ruling party's devastating rout in local elections on June 2, he said, "I felt the need to keep discipline among public servants and fulfill my duties to the end as there were still tasks left for me until by-elections on July 28."

Chung also took responsibility for failing to persuade the National Assembly to back a change of plan for Sejong City, a new administrative center in South Chungcheong Province. "I feel regret that the revision was not passed as I believe the relocation of government agencies could lead to weakening national strength and cause social confusion."

The Roh Moo-hyun administration planned to relocate some nine ministries and several other agencies from Seoul in the interest of "balanced development" of the country, but the Lee administration had hoped to abolish the plan and turn the city into a science and business hub instead. Lawmakers in June rejected the change and the move will now go ahead as planned.

A Cabinet reshuffle is in the works. Presidential spokeswoman Kim Hee-jung said Lee will announce his new Cabinet line-up after reviewing a list of potential candidates during his summer vacation next week.