Jo Sun, Professor Emeritus at Seoul National University
[Asia Economy Reporter Seo So-jung] Lee Chang-yong, Governor of the Bank of Korea, expressed his condolences on the passing of Cho Soon, a towering figure in Korean economics, who died on the 23rd.
On the same day, the Bank of Korea delivered a message from Governor Lee regarding the death of former Deputy Prime Minister Cho. The late Cho served as a professor in the Department of Economics at Seoul National University for 20 years starting in 1968, and in 1988, he was appointed Deputy Prime Minister and Minister of Economic Planning. From 1992, he served as Governor of the Bank of Korea but resigned after one year due to conflicts with the government over the independence of the central bank.
Notably, Governor Lee and the late Cho shared a special relationship as teacher and student in the Seoul National University Department of Economics, with Cho even officiating at Lee’s wedding. They also share the commonality of having served as Governors of the Bank of Korea.
Governor Lee said, "On my way to the airport, I received the sad news of the passing of former Governor Cho Soon. He left a significant mark on the development of the Korean economy, not only as an economist but also as Governor of the Bank of Korea and Deputy Prime Minister."
He continued, "Personally, he was a mentor who taught me, and in these difficult times for the Korean economy, I intend to reflect again on the wisdom he imparted." Governor Lee added, "I regret that I cannot visit the funeral due to a business trip, but I wish the deceased eternal peace and offer my deepest condolences to the bereaved family. I plan to pay my respects as soon as I return from the trip."
Governor Lee departed to attend the annual meeting of the Bank for International Settlements (BIS) held in Basel, Switzerland, on the 25th and 26th (local time).
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