Hyun Song Shin, Bank of Korea Governor Nominee, Resigns from BIS... Set to Return Soon

BIS: "An Excellent Candidate for Governor"

Hyun Song Shin, nominee for the Governor of the Bank of Korea, has resigned from his current position at the Bank for International Settlements (BIS). Shin is expected to return to Korea soon and focus on preparing for the National Assembly confirmation hearing, which is scheduled to take place in early to mid-April.

Shin Hyun-song, nominee for Governor of the Bank of Korea.

On March 23, the BIS distributed a press release announcing that Shin would immediately step down from his roles as Economic Adviser and Head of Research, following his nomination as governor.

Previously, on March 16—before Shin was nominated as governor—the BIS announced that he would resign in August and that Helen Rey would succeed him as the new Head of Research.

Pablo Hernández de Cos, Secretary General of the BIS, congratulated Shin on his nomination, stating, "Shin is widely respected as a thought leader and trusted adviser in both the economics community and among central banks. He is an excellent candidate for governor."

Shin is expected to return to Korea soon to prepare for the confirmation hearing. The new Governor of the Bank of Korea will be appointed by the President after deliberation by the Cabinet, the National Assembly confirmation hearing, and the adoption of the hearing report. The confirmation hearing is expected to take place in early to mid-April.

This content was produced with the assistance of AI translation services.