Korean president names new central bank governor

Changyong Rhee Asian Development Bank Chief Economist
Rhee Chang-yong

South Korean president Moon Jae-in announced on March 23 that he would nominate Rhee Chang-yong to be the next governor of the central bank.

Rhee will succeed Lee Ju-yeol, governor since April 2014. Lee was first appointed by previous president Park Geun-hye. In 2018, Moon named him to a second term, which ends March 31. Governors may serve no more than two consecutive terms.

Under the Bank of Korea Act, the president names the governor of the Bank of Korea to a four-year term, “following

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