"To Deeply Analyze Economic Issues" Expansion Launch of Songhyeon Economic Research Institute

Mass Recruitment of Economic Experts from Bank of Korea
Formation of 7 Divisions... Full-Scale Activities Begin This Month

Jung Dae-young, Director of Songhyeon Economic Research Institute

[Asia Economy Reporter Koo Chae-eun] Songhyun Economic Research Institute has expanded and reorganized into a private think tank composed of economic experts from the Bank of Korea.

According to Songhyun Economic Research Institute on the 7th, the think tank relaunched by expanding to a seven-division system by recruiting many economic experts from the Bank of Korea. Jeong Dae-young, head of Songhyun Economic Research Institute, stated, "Taking this opportunity to expand and reorganize into a seven-division system, we will become a small but strong research institute that provides practical help such as analyzing economic realities and proposing alternatives so that economic agents like the public, companies, and financial institutions can better understand economic phenomena and adapt to future changes."

The institute was established in March 2012 as a one-person research institute centered on Director Jeong Dae-young, and after incorporation in February this year, decided on this expansion and reorganization. Director Jeong served as Director of the Financial Stability Analysis Bureau and Head of the Frankfurt Office at the Bank of Korea, and also served as a member of the Presidential Policy Planning Committee.

Based on this organizational restructuring, the institute plans to actively present objective and neutral alternatives regarding domestic and international economic conditions, financial market trends, and major policy issues. The seven divisions are composed of the Macroeconomics Division, Economic Finance Division, Financial Industry Division, International Economics Division, Digital Finance Division, Business Economic Ethics Division, and External Cooperation Division.

Former Bank of Korea officials such as Jang Kwang-soo, former Head of the Trend Analysis Team at the Research Department, Lee Yong-hee, former Director of Communications, Cho Jeong-hwan, former Director of the Financial Stability Bureau, Park Yi-rak, former Director of the Financial Settlement Bureau, and Bae Jae-soo, former Director of the Planning Cooperation Bureau, have joined. They plan to engage in various activities such as actively presenting objective and neutral alternatives regarding domestic and international economic conditions, financial market trend analysis, forecasts, and major policy issues. In particular, besides publishing reports analyzing domestic and international economic issues, they will conduct economic education and training for economic agents such as companies and financial institutions, and undertake editing service projects for economic reports and booklets.