The Bank of Korea Appoints Lee Jaewon, Professor of Economics at Seoul National University, as New Head of Economic Research Institute
The Bank of Korea announced on the 4th that Professor Lee Jaewon of the Department of Economics at Seoul National University has been appointed as the new head of the Economic Research Institute.
Assuming office on the 14th, the new head of the Economic Research Institute will oversee the institute responsible for in-depth research on Korea's medium- to long-term economic challenges and domestic and international research exchanges. He will also play a role in setting the overall medium- to long-term research direction and themes of the Bank of Korea, as well as coordinating research among departments.
The head of the institute was selected through an external recruitment process, including document and interview evaluations by screening committees composed of five internal and external members, followed by an interview with the Governor. The position is a comprehensive planning staff (contract) at the highest grade, with compensation and treatment equivalent to that of a Deputy Governor.
Born in 1975, Lee earned his Ph.D. in Economics from Princeton University in 2008. He has served as a professor at Rutgers University (2008?2013), University of Virginia (2017?2021), and currently at Seoul National University (2021?present).
He has achieved outstanding research results in the field of macroeconomics, publishing numerous papers on monetary policy, fiscal policy, business cycles, and inflation dynamics in leading international journals. He is also recognized for his extensive research exchange experience, including research activities at the Federal Reserve Bank of the United States, and for having a broad global network.
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A Bank of Korea official stated, "We expect the young and talented new head of the Economic Research Institute in his 40s to inject dynamism and flexibility into the organization and to play a significant role in establishing a horizontal organizational culture through active communication with staff."
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