South Korea Names BIS Official as Next Central Bank Chief -- WSJ

Dow Jones03-22 20:52

By Kwanwoo Jun

South Korean President Lee Jae Myung has nominated Shin Hyun-song, a senior Bank for International Settlements official, as the country's next central bank governor.

Shin will replace departing Bank of Korea Governor Rhee Chang-yong, whose four-year term ends on April 20, Lee's office said in a statement on Sunday.

The nominee joined the BIS in 2014 and currently serves as economic adviser and head of the monetary and economic department at the Switzerland-based institution, often known as a bank for central banks.

Lee's office described Shin as "the right person to simultaneously achieve the monetary policy goals of price stability and national economic growth" at a time when economic uncertainty increases further due to the Middle East situation.

Shin said he "feels a heavy sense of responsibility" to steer monetary policy at this critical time, according to a statement released by the Bank of Korea late Sunday.

He added that he would pursue "a balanced monetary policy that takes into account inflation, growth, and financial stability" and elaborate on the approach during his upcoming parliamentary hearing.

Under South Korean law, Shin should undergo a hearing at the National Assembly before his formal appointment.

Write to Kwanwoo Jun at Kwanwoo.Jun@wsj.com

(END) Dow Jones Newswires

March 22, 2026 08:52 ET (12:52 GMT)

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