President Lee Jae-myung on Thursday approved the appointment of Shin Hyun-song as Governor of the Bank of Korea (BOK).
"President Lee has approved the appointment of Governor Shin, whose confirmation hearing report was adopted through a bipartisan agreement," Kang Yu-jung, senior spokesperson for the presidential office, said in a press announcement. Shin's appointment takes effect on Friday.
Earlier in the day, the National Assembly's Finance and Economy Committee adopted the confirmation hearing report on Shin through a bipartisan agreement. The adoption came five days after the confirmation hearing held on the 15th.
The committee had initially planned to adopt the confirmation report on the 17th, but the process was delayed after opposition lawmakers raised concerns over allegations that Shin's child had violated the Passport Act. However, the committee ultimately decided to adopt the report, citing the need to avoid leaving the BOK governor post vacant given current domestic and international economic conditions.
