Photo : YONHAP News
President Lee Jae Myung has named the Bank for International Settlements'(BIS) economic adviser and head of the monetary and economic department, Shin Hyun-song, as the new head of Bank of Korea(BOK).
According to Senior Presidential Secretary for Public Relations and Communications Lee Kyu-yeon on Sunday, the nominee is a leading authority in global finance and macroeconomics with both academic credentials and practical insight.
Shin, former economics professor at Princeton University, was described as “the right person” to meet both monetary policy goals of stabilizing consumer prices and attaining national growth amid growing uncertainties stemming from the crisis in the Middle East.
The nominee will undergo a parliamentary confirmation hearing prior to his appointment.
Current BOK Governor Rhee Chang-yong’s four-year term will run through April 20.