President Lee Jae-myung on Monday approved the appointment of Hyun Song Shin as Governor of the Bank of Korea (BOK), Presidential Chief Spokesperson Kang Yu-jung said.
Shin's appointment takes effect Tuesday.
Earlier in the day, the National Assembly's Finance and Economic Planning Committee held a plenary session and adopted the confirmation hearing report on the nominee with bipartisan consent. The adoption came five days after the confirmation hearing on the 15th.
Shin was born in Daegu in 1959. He studied politics, philosophy and economics at the University of Oxford in the United Kingdom, where he also earned his master's and doctoral degrees in economics. He has since served as head of the monetary and economic department at the Bank for International Settlements (BIS), a resident scholar at the International Monetary Fund (IMF), a financial advisor to the Federal Reserve Bank of New York, and a professor of economics at Princeton University in the United States. During the Lee Myung-bak administration, he served as senior secretary to the president for international economic affairs.
