President Moon Jae-in nominated incumbent Bank of Korea Governor Lee Joo-yeol as the central bank’s next chief on Friday. If inaugurated through a parliamentary confirmation hearing, Lee will be the first Bank of Korea governor to win a second term in 40 years since former Governor Kim Seong-hwan served from 1970 to 1978. Hailing from Wonju, Gangwon Province, Lee has been serving his first term since April 2014.
“Nominee Lee’s reappointment reflects President Moon Jae-in’s commitment to ensure the Bank of Korea’s independence and autonomy,” said presidential spokesperson Kim Ui-gyeom.
Lee was appointed after undergoing a confirmation hearing for the first time in line with the revised Bank of Korea Act. If he passes the upcoming confirmation hearing again, he will serve his second four-year term through April 2022.
Sang-Jun Han email@example.com · Jun-Il Kim firstname.lastname@example.org