News
Shin Hyun-song Appointed Bank of Korea Governor to Address Rising Debt
South Korean President Lee Jae Myung nominated Shin Hyun-song, head of the economic department at the Bank of International Settlements (BIS), as the next central bank governor. Shin is known for predicting the 2008 global financial crisis.
Shin Hyun-song will take over as governor of the Bank of Korea, succeeding Rhee Chang-yong. A spokesperson at the presidential Blue House announced the appointment on Sunday. Rhee Chang-yong's term is scheduled to end on April 20. Shin Hyun-song is currently the head of the economic department at the Bank of International Settlements.
Key Facts
- Shin Hyun-song will be the next governor of the Bank of Korea.
- Shin Hyun-song is currently head of the economic department at the Bank of International Settlements.
- President Lee Jae Myung nominated Shin Hyun-song.
- The presidential Blue House spokesperson made the announcement on Sunday.
- The new governor is expected to address rising debt.
- Rhee Chang-yong's term concludes on April 20.
- Shin Hyun-song is known for correctly predicting the 2008 global financial crisis.
Primary Source
Research Sources
- Market Screener — BIS economist Shin Hyun-song named Bank of Korea governor, presidential office says