Korea University Professor Jinil Kim Recommended as New Bank of Korea Monetary Policy Committee Member

Successor to Sung Hwan Shin on the Monetary Policy Committee
Recommended by the Korea Federation of Banks

Jinil Kim, a professor of economics at Korea University, has been recommended as the new member of the Monetary Policy Committee.

Jinil Kim, the newly appointed member of the Monetary Policy Committee at the Bank of Korea.

According to the Bank of Korea on May 11, in accordance with Article 13 of the Bank of Korea Act, the Korea Federation of Banks has recommended Professor Kim as the successor to Sung Hwan Shin, whose term as a Monetary Policy Committee member expires on May 12.

The Monetary Policy Committee has a total of seven members. Aside from the ex officio members—the Governor and Deputy Governor of the Bank of Korea—one member each is recommended by the Minister of Economy and Finance, the Governor of the Bank of Korea, the Chairman of the Financial Services Commission, the Chairman of the Korea Chamber of Commerce and Industry, and the Chairman of the Korea Federation of Banks. All appointments are finalized with the approval of the President.

Born in 1967, Professor Kim earned a bachelor's degree in economics from Seoul National University, a master's degree in economics from the same university, and later obtained a Ph.D. in economics from Yale University's graduate program in the United States.

He has been recognized for his extensive practical experience, having served as an economist at the U.S. Federal Reserve Board (Fed), an adjunct professor at Georgetown University, and an assistant professor of economics at the University of Virginia. From 2003, he worked for seven years as a senior economist at the Federal Reserve. Since 2010, he has been a professor in the Department of Economics at Korea University’s College of Political Science and Economics.

He is regarded as a leading expert in macroeconomics and monetary policy in Korea, and has longstanding ties with the Bank of Korea, including previous roles as an advisory professor for the Bank's Research Department and Economic Research Institute.

Jinil Kim, the newly nominated Monetary Policy Committee member, is expected to officially begin his duties after presidential appointment procedures are completed. His term will run until May 12, 2030.

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