Hyun-Song Shin, Governor of the Bank of Korea, Appointed as Director of 'BIS Board of Directors'... Three-Year Term

Bank of Korea Governor Continues to Serve as BIS Director Since 2019

Hyun-Song Shin, Governor of the Bank of Korea, was elected as a board member at the regular BIS Board of Directors meeting held at the headquarters of the Bank for International Settlements (BIS) in Basel, Switzerland, on the 11th (local time). Governor Shin officially began his three-year term on this day.

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

The BIS Board of Directors is the de facto highest decision-making body of the BIS, responsible for determining the BIS's strategy and policy direction, and overseeing the work of the executive.

The board consists of 18 members, including ex officio directors (the governors of the six founding member central banks), a nominated director (the President of the Federal Reserve Bank of New York), and elected directors (up to 11 governors of general member central banks elected by a two-thirds majority of the board). Currently, the ex officio directors are the governors of the central banks of Belgium, France, Germany, Italy, the United States, and the United Kingdom; the elected directors are the governors of the central banks of Sweden, Switzerland, Japan, China, India, Brazil, the European Central Bank (ECB), Canada, Mexico, Saudi Arabia, and Korea.

A Bank of Korea official explained that Governor Shin's appointment to the BIS Board of Directors "reflects the Bank of Korea's contributions to the BIS Governors' Meetings and discussions on major international financial issues, as well as Governor Shin's international reputation."

With this appointment, the Governor of the Bank of Korea will continue to serve as a BIS director, a position held since 2019.

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