Lee Chang-yong, Candidate for BOK Governor, "Monetary Policy to Consider Growth, Inflation, and Financial Stability"

Announcement of Designation Impressions on the 24th

Lee Chang-yong, Nominee for Next Governor of the Bank of Korea

[Asia Economy Reporter Seo So-jeong] "We will operate monetary policy by balancing growth, inflation, and financial stability."

On the 24th, Lee Chang-yong, the next nominee for Governor of the Bank of Korea, announced his nomination remarks.

Lee stated, "As external uncertainties increase, concerns are growing that domestic inflation and economic risks may expand simultaneously. Based on my experience working at the International Monetary Fund (IMF) for over eight years, I will do my best together with the Monetary Policy Committee to help our economy overcome the various challenges it currently faces."

Lee began by saying, "Being nominated as the Governor candidate of the Bank of Korea is a great personal honor, but above all, I feel a heavy responsibility to lead monetary policy during such a critical time."

He added, "Recently, as the U.S. Federal Reserve (Fed) accelerates the normalization of its monetary policy, the spread of the Omicron variant in China is increasing the likelihood of an economic slowdown there. Additionally, the situation in Ukraine is developing unpredictably, making it difficult to gauge the impact on both domestic and international economies."

Lee emphasized, "With rising external uncertainties, concerns are growing that domestic inflation and economic risks may expand simultaneously. I will intensely consider how to operate monetary policy by balancing growth, inflation, and financial stability."

He continued, "I will provide more detailed thoughts on policies and organizational management during the upcoming National Assembly confirmation hearings."