First Half Personnel Report Shows Record High Proportion of Women
[Asia Economy Reporter Seo So-jeong] The Bank of Korea announced on the 27th that it conducted personnel appointments for the first half of this year, appointing a total of 15 department heads either newly or through transfers.
A total of 90 employees were promoted: 10 at grade 1, 18 at grade 2, 28 at grade 3, and 34 at grade 4. Among them, 26 were women (1 at grade 2, 11 at grade 3, and 14 at grade 4), marking the highest proportion of female promotees at 28.9% in history.
This personnel appointment is the second since Governor Lee Chang-yong took office, following the second half of last year's appointments, emphasizing work expertise and diversity in human composition.
Newly appointed Shin Seung-cheol as Director of the Economic Statistics Bureau and Park Jong-woo as Director of the Financial Markets Bureau are recognized as leading experts in economic statistics compilation and monetary policy within the Bank. Director Shin (former Head of the Chungbuk Regional Office) has served for a long time as a practical manager, team leader, and department head in the Economic Statistics Bureau and is considered the right person to lead major pending issues such as the revision of the base year for national accounts without disruption. Director Park (former Deputy Director of the Monetary Policy Bureau) is a representative monetary policy expert who has spent most of his career in the Monetary Policy Bureau.
Newly appointed Kim In-gu as Director of the Financial Stability Bureau (former Director of the Financial Markets Bureau) is expected to demonstrate his capabilities as Director of the Financial Stability Bureau, having shown a high understanding of the domestic financial market, judgment skills, diverse policy response abilities, and experience in financial stability analysis. Newly appointed Park Cheol-won as Head of the Financial Inspection Office (former Head of the Treasury Securities Office) is evaluated to possess specialized knowledge and experience related to financial inspections, having served as a key team leader in the Financial Inspection Office for many years.
Governor Lee selected some grade 2 employees with proven abilities for certain department head positions such as Head of the Monetary Policy Committee Office, Head of the Property Management Office, and Head of the Financial Operations Office.
Newly appointed Choi Yong-hoon as Head of the Monetary Policy Committee Office (former External Cooperation Team Leader of the Planning and Cooperation Bureau) has experience in monetary policy formulation and execution as well as assisting committee members, having worked in the Financial Markets Bureau and as an aide to the Monetary Policy Committee. Newly appointed Han Sang-hyun as Head of the Property Management Office (former Facility Operations Team Leader of the Property Management Office) is an on-site management expert who has worked for a long time in the Planning and Cooperation Bureau, Human Resources Management Bureau, and Property Management Office. Newly appointed Kang Nam-i as Head of the Financial Operations Office (former Deputy Head of the Gyeonggi Regional Office) has experience smoothly handling bank-wide risk management tasks in response to the spread of COVID-19 as the Operations Risk Team Leader of the Planning and Cooperation Bureau.
The grade 1 promotees include 10 people such as Jang Jeong-su, Chief Secretary; Bae Byung-ho, Director of the International Economy Department of the Research Bureau; Choi Chang-ho, Head of the Research Coordination Team of the Research Bureau; Kim Young-hwan, Head of the Financial Statistics Department of the Economic Statistics Bureau; Choi In-bang, Deputy Director of the Financial Markets Bureau; Lee Byung-mok, Head of the Payment Monitoring Department of the Financial Settlement Bureau; Park Wan-geun, Deputy Director of the Issuance Bureau; Hwang Kwang-myeong, Head of the International Finance Department of the International Bureau; Kwon Min-su, Head of the Foreign Exchange Planning Department of the Foreign Exchange Operations; and Na Seung-ho, Head of the Macroeconomic Research Office of the Economic Research Institute.
Additionally, the number of female promotees reached a historic high of 26 (28.9%). With Kang Nam-i newly appointed as Head of the Financial Operations Office, the number of female department heads expanded to three, following the newly appointed Ju Yeon-soon, Director of the IT Strategy Bureau, and Ryu Hyun-joo, Director of the International Cooperation Bureau, in the previous personnel appointments.
A Bank of Korea official stated, "For department heads, some headquarters departments, overseas offices, and regional headquarters appointed employees recognized for their expertise and capabilities," adding, "The proportion of female promotees at the managerial level (grades 1 to 3) is 21.4%, exceeding 20% for the second consecutive time, highlighting the continued emphasis on employing female personnel."
On this day, the Bank of Korea announced that it will implement the 'Department-Team System' by establishing department organizations under major divisions based on the 'Bank of Korea Management Personnel Innovation Plan' finalized in June last year. Accordingly, a total of 11 new departments will be established: Economic Analysis Department (Research Bureau), Statistical Planning Department and Industrial Statistics Department (Economic Statistics Bureau), Financial Stability Planning Department (Financial Stability Bureau), Policy Planning Department (Monetary Policy Bureau), Monetary and Financial Department (Financial Markets Bureau), Payment Policy Department (Financial Settlement Bureau), Issuance Policy Department and Issuance Operations Department (Issuance Bureau), International Planning Department (International Bureau), and Global Cooperation Department (International Cooperation Bureau).
The Bank explained that based on the Department-Team system, it will sequentially delegate authority from the Governor and Deputy Governor to each position to enhance the speed of decision-making and strengthen the role of middle managers such as department heads.
Meanwhile, to promote the Central Bank Digital Currency (CBDC) project and advance technological research, the name of the Electronic Finance Department within the Financial Settlement Bureau has been changed to the 'Digital Currency Research Department' and expanded as a dedicated organization for the CBDC project.
In addition, as the central bank's response to sustainability growth issues becomes urgent, the Bank has strengthened the organization to effectively promote research on related issues, risk assessment, and review of policy measures.
The Bank of Korea added, "We will continue to implement management personnel innovation plans such as introducing an expert career path system to enhance employees' expertise and satisfy their growth desires, and reforming the performance evaluation system."
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