South Korea Names Shin Hyun-song as Central Bank Chief

President Lee Jae Myung has nominated South Korea economist Shin Hyun-song to lead the central bank, selecting a veteran official known for his early warnings of the 2008 Global Financial Crisis. Shin Hyun-song, currently the head of the economic department at the Bank for International Settlements (BIS), is set to succeed Rhee Chang-yong as the Governor of the Bank of Korea when the latter’s term concludes on April 20.

In an official statement released by the central bank, the 66-year-old Shin Hyun-song emphasized his commitment to maintaining a policy equilibrium that accounts for inflation, economic expansion, and financial stability. He noted the increasing complexity of the global landscape, particularly as geopolitical tensions involving Iran continue to influence market dynamics.