Bank of Korea chief cites peril of 'cronyism'

- Central Banking staff
- 27 May 2002

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SOUTH KOREA - Park Seung, the Bank of Korea governor, recently said that he offered Finance and Economy Minister Jeon Yun-churl his view on the appointment of a new member of the central bank's monetary policy committee.

Mr Park said he had asked the finance minister to consider the issue with a "broad" view, rather than seeing it as a chance to promote one of the ministry's senior officials. Mr Park said bureaucrats would encounter difficulty detaching themselves from their organisation.

The

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