President Lee Jae-myung (이재명) nominated Shin Hyun-song (신현송), head of the Monetary and Economic Department at the Bank for International Settlements (BIS), as the new candidate for Bank of Korea governor.
Presidential office spokesperson Lee Kyu-yeon (이규연) announced the nomination at a briefing on March 22.
Lee introduced Shin as “a global authority in international finance and macroeconomics with both academic depth and practical insight.”
Lee said uncertainty in the international economy is growing due to developments in the Middle East and inflation could rise. Lee added that Shin was judged to be the right person to achieve balanced price stability and growth in the national economy.
Shin said, “I will think about how to run a balanced monetary policy that takes into account prices, growth and financial stability.”
Shin will then go through procedures for appointment, including a confirmation hearing at the National Assembly’s Strategy and Finance Committee.
Lee Ji-young
ljy@d-today.co.kr