(LEAD) Lee taps BIS official Shin Hyun-song as BOK chief | Yonhap News Agency

## Summary
OK (ATTN: UPDATES with details) SEOUL, March 22 (Yonhap) -- President Lee Jae Myung on Sunday nominated Shin Hyun-song, an official of the Bank for International Settlements (BIS), as the new governor of the Bank of Korea (BOK), his office said. In addition, the nominee served as a member of the Financial Advisory Roundtable at the Federal Reserve Bank of New York and adviser for international economic affairs to former President Lee Myung-bak in 2010. This photo provided by Cheong Wa Dae shows Shin Hyun-song, the nominee for governor of the Bank of Korea. (PHOTO NOT FOR SALE) (Yonhap) hague@yna.co.kr (END) Keywords #BOK chief #nomination Articles with issue keywords Most Liked Netflix, BTS to turn Seoul into world's 'biggest watch party' Four decades of Damien Hirst on display at MMCA, from shark to cherry blossoms (LEAD) FM Cho sidesteps questions on whether U.S. asked Seoul to send warships to Middle East Ex-U.S. officials voice concerns about Trump gov't 'vacating' deterrence assets from Indo-Pacific amid Iran war Korean Pavilion at Venice Biennale seeks comfort through art, with Han Kang's sculpture of blackened trees Most Saved Netflix, BTS to turn Seoul into world's 'biggest watch party' (LEAD) FM Cho sidesteps questions on whether U.S. asked Seoul to send warships to Middle East Four decades of Damien Hirst on display at MMCA, from shark to cherry blossoms Korean Pavilion at Venice Biennale seeks comfort through art, with Han Kang's sculpture of blackened trees Ex-U.S. officials voice concerns about Trump gov't 'vacating' deterrence assets from Indo-Pacific amid Iran war Most Viewed All Categories (3rd LD) About 40,000 fans gather for BTS comeback concert in downtown Seoul (LEAD) BTS stages concert in Seoul's Gwanghwamun to mark long-awaited return S. Korea in consultation with Iran, others to secure ship passage through Strait of Hormuz (4th LD) 14 killed in car parts plant fire in Daejeon BTS comeback show to 'spotlight symbolism of Gwanghwamun Square' Most Viewed More Most Viewed Photos Fans leave BTS concert Gwanghwamun crowded as BTS set to hold concert BTS holds comeback concert BTS holds comeback concert prev (LEAD) Lee taps BIS official Shin Hyun-song as BOK chief Next (LEAD) Lee taps BIS official Shin Hyun-song as BOK chief

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(ATTN: UPDATES with details)
SEOUL, March 22 (Yonhap) -- President Lee Jae Myung on Sunday nominated Shin Hyun-song, an official of the Bank for International Settlements (BIS), as the new governor of the Bank of Korea (BOK), his office said.
Shin, who would replace current Gov. Rhee Chang-yong at the end of his four-year term in April, is a leading expert on international finance and macroeconomics equipped with both academic depth and practical insight, a presidential spokesperson said.
"He is the right person to simultaneously achieve the monetary policy goals of price stability and growth of the people's economy at a time when global economic uncertainty has increased due to the situation in the Middle East," Lee Kyu-youn, senior presidential secretary for public relations and communication, said during a press briefing.
Shin is head of the monetary and economic department at the BIS. His academic background includes professorships at Princeton University, the London School of Economics and his alma mater, Oxford University.
In addition, the nominee served as a member of the Financial Advisory Roundtable at the Federal Reserve Bank of New York and adviser for international economic affairs to former President Lee Myung-bak in 2010.
While Shin will be required to undergo a parliamentary confirmation hearing, the procedure is widely seen as a formality because his formal appointment does not require the endorsement of the National Assembly.
The BOK kept its benchmark interest rate steady at 2.5 percent in its latest rate-setting meeting held late last month, marking the sixth consecutive on-hold decision, as it sought to ensure financial stability amid a weak local currency and an unstable housing market despite stronger-than-expected growth momentum.
This photo provided by Cheong Wa Dae shows Shin Hyun-song, the nominee for governor of the Bank of Korea. (PHOTO NOT FOR SALE) (Yonhap)
hague@yna.co.kr
(END)
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## Expert Analysis

### Merits
N/A

### Areas for Consideration
- This photo provided by Cheong Wa Dae shows Shin Hyun-song, the nominee for governor of the Bank of Korea. (PHOTO NOT FOR SALE) (Yonhap) hague@yna.co.kr (END) Keywords #BOK chief #nomination Articles with issue keywords Most Liked Netflix, BTS to turn Seoul into world's 'biggest watch party' Four decades of Damien Hirst on display at MMCA, from shark to cherry blossoms (LEAD) FM Cho sidesteps questions on whether U.S. asked Seoul to send warships to Middle East Ex-U.S. officials voice concerns about Trump gov't 'vacating' deterrence assets from Indo-Pacific amid Iran war Korean Pavilion at Venice Biennale seeks comfort through art, with Han Kang's sculpture of blackened trees Most Saved Netflix, BTS to turn Seoul into world's 'biggest watch party' (LEAD) FM Cho sidesteps questions on whether U.S. asked Seoul to send warships to Middle East Four decades of Damien Hirst on display at MMCA, from shark to cherry blossoms Korean Pavilion at Venice Biennale seeks comfort through art, with Han Kang's sculpture of blackened trees Ex-U.S. officials voice concerns about Trump gov't 'vacating' deterrence assets from Indo-Pacific amid Iran war Most Viewed All Categories (3rd LD) About 40,000 fans gather for BTS comeback concert in downtown Seoul (LEAD) BTS stages concert in Seoul's Gwanghwamun to mark long-awaited return S.

### Implications
- Rhee Chang-yong at the end of his four-year term in April, is a leading expert on international finance and macroeconomics equipped with both academic depth and practical insight, a presidential spokesperson said. "He is the right person to simultaneously achieve the monetary policy goals of price stability and growth of the people's economy at a time when global economic uncertainty has increased due to the situation in the Middle East," Lee Kyu-youn, senior presidential secretary for public relations and communication, said during a press briefing.
- While Shin will be required to undergo a parliamentary confirmation hearing, the procedure is widely seen as a formality because his formal appointment does not require the endorsement of the National Assembly.
- This photo provided by Cheong Wa Dae shows Shin Hyun-song, the nominee for governor of the Bank of Korea. (PHOTO NOT FOR SALE) (Yonhap) hague@yna.co.kr (END) Keywords #BOK chief #nomination Articles with issue keywords Most Liked Netflix, BTS to turn Seoul into world's 'biggest watch party' Four decades of Damien Hirst on display at MMCA, from shark to cherry blossoms (LEAD) FM Cho sidesteps questions on whether U.S. asked Seoul to send warships to Middle East Ex-U.S. officials voice concerns about Trump gov't 'vacating' deterrence assets from Indo-Pacific amid Iran war Korean Pavilion at Venice Biennale seeks comfort through art, with Han Kang's sculpture of blackened trees Most Saved Netflix, BTS to turn Seoul into world's 'biggest watch party' (LEAD) FM Cho sidesteps questions on whether U.S. asked Seoul to send warships to Middle East Four decades of Damien Hirst on display at MMCA, from shark to cherry blossoms Korean Pavilion at Venice Biennale seeks comfort through art, with Han Kang's sculpture of blackened trees Ex-U.S. officials voice concerns about Trump gov't 'vacating' deterrence assets from Indo-Pacific amid Iran war Most Viewed All Categories (3rd LD) About 40,000 fans gather for BTS comeback concert in downtown Seoul (LEAD) BTS stages concert in Seoul's Gwanghwamun to mark long-awaited return S.
- Korea in consultation with Iran, others to secure ship passage through Strait of Hormuz (4th LD) 14 killed in car parts plant fire in Daejeon BTS comeback show to 'spotlight symbolism of Gwanghwamun Square' Most Viewed More Most Viewed Photos Fans leave BTS concert Gwanghwamun crowded as BTS set to hold concert BTS holds comeback concert BTS holds comeback concert prev (LEAD) Lee taps BIS official Shin Hyun-song as BOK chief Next (LEAD) Lee taps BIS official Shin Hyun-song as BOK chief

### Expert Commentary
This article covers bts, seoul, shin topics. Areas of concern are also raised. Readability: Flesch-Kincaid grade 0.0. Word count: 582.