The centre replaces Exeter's Tom Bedford at outside centre in a game England will almost certainly have to win to progress to the semi-final stages.
Sixways team-mates Matt Cox and Miles Benjamin are also named in the starting XV for the clash at Ravenhill after impressing against Argentina.
"Greg's been part of the squad since we first got together at Worcester in November last year," said head coach Nigel Redman. "He runs good lines, is aggressive in defence and he'll be fresh and raring to go at Ravenhill."
England have already beaten Samoa 20-12 and Argentina 17-15 but a defeat against New Zealand would probably leave them in the second tier of play-offs for the sides placed fifth to eighth in the group stage rankings.
Tournament favourites New Zealand beat Wales 37-14 in their opening game before thrashing Japan 107-6.
"In the past teams came to tournaments like these looking for maximum points in their first two games and then to take a bonus point out of the last game," said Redman. "I'd like to change that thinking. It's important to win all three games because it makes a statement going into the knock-out stages and it's all in your own hands.
"I think New Zealand are beatable. If we defend as well as we can and if we're as free-thinking in attack as we were when we beat France 29-5 earlier this season it'll be a good game."
England Under-19s - 01 Nathan Catt (Bath Rugby), 02 Scott Freer (Leeds Tykes), 03 Alex Corbisiero (London Irish), 04 Ben Thomas (Saracens), 05 Scott Hobson (Cornish Pirates), 06 Matt Cox (Worcester Warriors, 07 Andy Saull (Saracens), 08 Hugo Ellis (London Wasps), 09 Joe Simpson (London Wasps), 10 Gareth Griffiths (Bristol Rugby), 11 Miles Benjamin (Worcester Warriors), 12 Alex Tait (Newcastle Falcons), 13 Greg King (Worcester Warriors), 14 Noah Cato (Saracens), 15 Alex Goode (Saracens)
Replacements: Joe Williams (Gloucester Rugby), Billy Moss (Bath Rugby), Jack Steadman (Bristol Rugby), Gregor Gillanders (Leicester Tigers), Danny Pointon (Northampton Saints), Richard Bolt (Exeter Chiefs), David Smith (Northampton Saints), Tom Bedford (Exeter Chiefs), Adam Greendale (Leeds Tykes & Hymers College), Garth Dew (Sale Sharks), Jon Fisher (London Irish & Wellington College)