[Asia Economy Reporter Lee Ji-eun] On the 23rd, President Moon Jae-in nominated Lee Chang-yong, Director of the Asia-Pacific Department at the International Monetary Fund (IMF), as the new candidate for Governor of the Bank of Korea. This move comes as Governor Lee Ju-yeol's term ends on the 31st, and the Blue House stated that they also consulted with the incoming administration.
Park Soo-hyun, Senior Secretary for Public Communication at the Blue House, announced in a briefing on the 23rd, "President Moon nominated Lee Chang-yong, Director of the IMF Asia-Pacific Department, as the candidate for Governor of the Bank of Korea today."
The Blue House's involvement in selecting the Bank of Korea Governor is due to growing concerns about a vacancy following the end of Governor Lee Ju-yeol's term later this month.
It is also known that the incoming administration expressed their opinion on the Blue House's nomination. A Blue House official explained, "Since this concerns presidential appointments, it is difficult to provide detailed information, but to minimize the vacancy in the position of Bank of Korea Governor, we announced the nominee after consulting with the incoming administration."
As the delay in the meeting between President Moon and President-elect Yoon Suk-yeol is partly attributed to personnel issues, attention is focused on whether the meeting will accelerate now that the appointment of the Bank of Korea Governor, one of the major personnel matters, has been effectively resolved.
Regarding the appointment of the Audit and Inspection Committee member of the Board of Audit and Inspection, another personnel issue delaying the meeting, a Blue House official reaffirmed the existing stance, saying, "President Moon believes that the meeting with the President-elect should be held anytime without conditions."
Candidate Lee is an economic and financial expert who has served as a professor in the Department of Economics at Seoul National University, Vice Chairman of the Financial Services Commission, Chief Economist at the Asian Development Bank, and is currently Director of the IMF Asia-Pacific Department. Following Article 33 of the Bank of Korea Act, he will be appointed by the President after review by the State Council and a confirmation hearing by the National Assembly.
Senior Secretary Park stated, "He is recognized for combining theory and practical policy experience in domestic and international economics and monetary finance, and is highly trusted by those around him," adding, "Based on his extensive insight, experience, and global network sense, he is expected to contribute to price and financial market stability through efficient and stable monetary and credit policies responding to domestic and international economic and financial conditions."
Meanwhile, regarding the fact that the cumulative number of COVID-19 cases in Korea exceeded 10 million the previous day, it is reported that President Moon made no particular remarks.
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