"Expertise-Focused Appointments" BoK's Personnel Moves in H1 After Organizational Restructuring

Lee Dongwon Appointed as Head of Newly Reorganized Economic Statistics Bureau 2
Min Jungyu Named Head of Financial Operations Bureau, Yoon Sungkwan to Lead Digital Currency Research Office
"Department Heads Selected Based on Expertise and Capability"

The Bank of Korea conducted its 'Personnel Changes for the First Half of 2025' on the 24th. According to the Bank, following last month's organizational restructuring aimed at strengthening the central bank's core functions, department heads and team leaders with expertise were appointed regardless of seniority.

On the day, the Bank of Korea announced, "We promoted a total of 120 employees, including 10 at grade 1, 20 at grade 2, 36 at grade 3, 42 at grade 4, and 12 at grade 5. Promotion candidates were selected through the Management Personnel Committee, composed of executive officers including the Deputy Governor, based on outstanding job performance, high contribution to the organization, and excellent managerial qualities. It was stated that department heads were appointed from among employees recognized for their expertise and capabilities in headquarters departments, overseas offices, and regional headquarters.

With the Economic Statistics Bureau reorganized into Economic Statistics Bureau 1 and Economic Statistics Bureau 2, Shin Seung-cheol, head of the Economic Statistics Bureau, was appointed as the head of Economic Statistics Bureau 1. Lee Dong-won (dispatched to the National Defense University) was appointed as the head of Bureau 2. The Bank of Korea transferred the National Income General Team, Expenditure National Income Team, Distribution National Income Team, Input-Output Team, and National Balance Sheet Team, which were previously under the Economic Statistics Bureau, to Economic Statistics Bureau 2 to oversee the compilation of real statistics for national accounts such as GDP and enhance consistency across sectors, and newly established the National Accounts Planning Team. The Bank stated, "Since the new head Lee has long been recognized for his capabilities as a core practitioner and team leader in the field of national income statistics, we believe he will lead the newly reorganized Economic Statistics Bureau 2 stably." Economic Statistics Bureau 1 will focus its capabilities on financial statistics such as monetary indicators, household credit, fund circulation, balance of payments, and overseas investment statistics, as well as price, corporate statistics, and economic sentiment index compilation, and will strengthen statistical development using structured and unstructured data and the latest techniques.

Min Jun-gyu (formerly dispatched to Seoul National University), who possesses expertise in the overall central banking system, was appointed as the head of the Financial Operations Bureau, which was expanded from a division to a bureau. The new head Min is a former head of the Legal and Regulatory Affairs Office and a leading legal expert within the organization. The Bank of Korea expressed expectations that "given his understanding and insight into the Bank of Korea Act and the overall central banking system, he will stably lead the Financial Operations Bureau, which has been expanded to a bureau-level organization." He is considered the right person to improve the efficiency of treasury and securities operations and to strengthen the Bank of Korea's loan collateral system and securities custody operations.

Yoon Sung-kwan, former head of the Digital Currency Research Department who has led CBDC-related work, was appointed as the head of the Digital Currency Research Office, which was upgraded from a division to an office. The Bank stated, "The new head Yoon has consecutively served as head of the Electronic Finance Investigation Team, Digital Currency Research Team, and Digital Currency Research Department, leading the Bank of Korea's CBDC development efforts. We expect him to successfully carry out CBDC usability testing and cooperation with major international organizations and overseas central banks in response to the changing payment environment."

Sung Kwang-jin, former compliance officer at the Foreign Exchange Operations Department, was appointed as head of the Ethics Management Office; Choi Jang-o, former deputy head of the Property Management Office, as head of the Property Management Office; Bae Byung-ho, former head of the Economic Modeling Office, as director of the Talent Development Institute; and Kang Nam-i, former head of the Financial Operations Office, as head of the Financial Inspection Office.

The Bank of Korea also announced the appointment of Joo Jae-hyun, former head of the Foreign Exchange Planning Department, as head of the Foreign Exchange Operations Department. He was hired as an experienced professional and is recognized for his long-standing expertise in foreign exchange operations.

Young employees at grade 3 with relatively low seniority were newly appointed as team and section leaders to invigorate the organization.

To foster female leadership, the scale of female promotions was also expanded. The number of female promotions (grades 1 to 4) was 35, and notably, among grade 3 promotions, where team and section leader appointments are possible, women accounted for 16 out of 36 promotions, representing 44.4%. For policy advisor positions at the department head level, Lee Ah-rang, former head of the Macroeconomic Analysis Team at the Research Bureau, was appointed. She has worked at the Research Bureau, Economic Research Institute, and International Department, gaining diverse research and analytical experience on domestic and international financial and economic issues. The Bank of Korea stated, "In three years, the proportion of female managers at the team leader level (based on new appointments) is expected to reach about half."