The Bank of Korea Appoints Kim Woong as New Deputy Governor... Choi Chang-ho Named Head of Research Bureau

Kim Woong, the new Deputy Governor of the Bank of Korea (Photo by Bank of Korea)

Kim Woong, head of the Bank of Korea's Research Department, has been appointed as the new Deputy Governor.

The Bank of Korea announced that Governor Lee Chang-yong appointed Kim Woong, head of the Research Department, as the successor to Deputy Governor Lee Hwan-seok, whose term expires on the 8th.

Kim's term as Deputy Governor will be from the 9th until March 8, 2026, lasting three years.

Deputy Governor Kim graduated from Inchang High School in Seoul and earned a degree in Economics from Yonsei University before obtaining a Ph.D. in Economics from Texas A&M University in the United States.

Since joining the Bank of Korea in 1993, he has worked extensively in the Research Department and is a macroeconomic expert. He has demonstrated excellent performance based on his academic capabilities and diverse practical experience.

He has served as team leader, deputy director, and director within the Research Department, handling tasks such as analyzing domestic and international economic trends, developing macroeconomic models, economic forecasting, and researching macroeconomic policy issues.

The Bank of Korea explained, "He possesses a broad understanding of both domestic and international economies, outstanding insight, strong execution skills, and communication abilities. We expect him to successfully lead in-depth analysis of key economic issues and mid- to long-term research projects in response to changing internal and external environments."

The vacant position of head of the Research Department will be filled by Choi Chang-ho, head of the Macroeconomic Outlook Division.

Choi, also a Ph.D. in Economics, has held positions such as head of the Price Trends Team, Trend Analysis Team, General Research Team, and currently serves as head of the Macroeconomic Outlook Division within the Research Department.

The Bank of Korea evaluated Choi's performance, noting that he successfully managed price assessments, economic monitoring, and forecasting amid heightened uncertainties such as the spread of COVID-19, rising domestic and international inflation, the Ukraine conflict, and tightening monetary policies in major countries.

The Bank of Korea stated, "Based on his extensive experience in macroeconomics and high-level academic knowledge, we expect him to strengthen the Bank's research functions by providing accurate economic assessments and appropriate policy recommendations."