Bank of Korea Generational Shift in Personnel... 1970s-born Department Heads Advanced

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The Bank of Korea has initiated a generational shift by appointing department heads born in the 1970s to key departments.

On the 26th, the Bank announced the 2024 first half promotions, appointments, and transfers of department heads. A total of 108 employees were promoted: 10 to Grade 1, 20 to Grade 2, 37 to Grade 3, and 41 to Grade 4.

The notable feature of this personnel reshuffle is the large-scale appointment of 1970s-born individuals to major policy department head positions, preparing for a generational change.

Newly appointed Lee Ji-ho, Director of the Research Department (born 1970), has been recognized for his outstanding research capabilities, having accumulated extensive experience at the Research Department and the Economic Research Institute. Recently, he also served as the Ministry of Economy and Finance’s Director of Livelihood Economy Policy, gaining experience in economic policy formulation and execution.

Newly appointed Jang Jeong-su, Director of the Financial Stability Department (born 1971), has rich experience in policy departments such as the Monetary Policy Department and Financial Market Department, and is highly regarded for his deep understanding and expertise in both finance and the real economy. He has also consecutively served as a policy advisor and chief secretary.

Newly appointed Choi Chang-ho, Director of the Monetary Policy Department (born 1972), is considered a macroeconomic expert who demonstrated exceptional capabilities as a key team leader in the Research Department (Head of Price Trends Team, Trends Analysis Team, and General Research Team) and served as Director of the Research Department.

Na Seung-ho (dispatched to the National Defense University, born 1970) was appointed as the head of the newly established Sustainability Growth Office, Baek Mu-yeol (Deputy Director of the Legal and Regulatory Affairs Office, born 1971) as head of the Legal and Regulatory Affairs Office, and Lee Dong-ryeol (Director of the Regional Economy Department in the Research Department, born 1972) was appointed as Grade 2 Chief Secretary.

Director Na Seung-ho has extensive experience working at the Research Department and Economic Research Institute, conducting in-depth analysis of various domestic and international economic issues and developing and operating macroeconomic models.

Director Baek Mu-yeol, a career lawyer, is evaluated to have excellent understanding of the Bank of Korea Act and the central banking system overall, along with diverse experience in responding to legal disputes.

Chief Secretary Lee Dong-ryeol has accumulated diverse work experience not only in key Bank of Korea departments such as the Monetary Policy Department and Research Department but also in international organizations (IMF) and government bodies (National Economic Advisory Council).

In this personnel reshuffle, the proportion of female promotees was 24.1% (26 out of 108), exceeding 20% for the second consecutive year following 23.9% last year. Among managerial levels (Grades 1 to 3), including Grade 1, the number of female promotees was 10, maintaining double digits since 2022.

A Bank of Korea official explained, "By appointing 1970s-born individuals to major policy department head positions, we are preparing for a gradual generational shift. At the same time, we have actively promoted personnel exchanges between core departments such as Monetary Policy and Economic Outlook to strengthen an organic cooperation system."

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