Nominee for Financial Services Commission Chairman Ko Seung-beom: "Strong Partnership with Bank of Korea"

Nominee for Financial Services Commission Chairman Ko Seung-beom, Farewell Ceremony for Bank of Korea Monetary Policy Committee Member

[Image source=Yonhap News]

[Asia Economy Reporter Kim Eun-byeol] Ko Seung-beom, a member of the Monetary Policy Committee (MPC) of the Bank of Korea (BOK) who was nominated as the Financial Services Commission chairman, resigned from his MPC position on the 20th.

At 10 a.m. that day, nominee Ko Seung-beom held a farewell ceremony at the BOK headquarters in Jung-gu, Seoul, and stepped down from his MPC role. First appointed in April 2016, he was reappointed last April and was originally scheduled to serve until April 2023. The new MPC member will serve only until the end of Ko’s original term.

He said, "After being appointed as an MPC member, I gained valuable experience conducting monetary policy by thoroughly analyzing issues related to the real economy, macroeconomic policy, international finance, and domestic finance, which I mainly handled during my civil service career." He added, "I am truly grateful to the governor, fellow MPC members, and all BOK staff who shared the heavy responsibilities at the MPC over the past five years and four months."

He continued, "I will never forget the moments of active discussions and intense deliberations with MPC members, and the staff who shared numerous ideas based on their profound knowledge of the real economy and financial markets." Reflecting on his tenure, he recalled, "Among the 46 monetary policy meetings I attended, there was never an easy decision."

Furthermore, he emphasized, "Even though I am leaving, it does not mean we are becoming distant. I hope to meet as often as possible and maintain these valuable relationships." He expressed his belief that the past five years at the BOK will serve as a foundation for an even stronger partnership with the Bank going forward. This is interpreted as highlighting the need for continued communication and partnership with the BOK, especially as he is expected to focus intensively on curbing household debt in his role as Financial Services Commission chairman.

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