Kim Sungwook, IMF Executive Director, Appointed as ADB's New Head of External Relations

Vice President-Level Position
Responsible for Expanding Regional and Global Partnerships and International Cooperation

A Korean national has been appointed to a newly established senior executive position at the Asian Development Bank (ADB), an international financial institution in the Asia-Pacific region led by Japan.

According to the Ministry of Economy and Finance on May 22, the ADB announced the appointment of Kim Sungwook, Executive Director at the International Monetary Fund (IMF), as the new Vice President-level Head of External Relations.

The Head of External Relations at the ADB is a newly created senior executive position at the vice president level, established this year as a proactive response to concerns over the recent weakening of multilateralism.

This role is one of the highest-ranking positions overseeing the ADB's external relations, with a primary focus on expanding partnerships with countries both within and outside the region, as well as strengthening regional economic integration and international cooperation.

Kim, the appointee, has extensive knowledge and long-standing experience in international finance and development finance, having served as IMF Executive Director, Director General for International Economic Affairs at the Ministry of Economy and Finance, and Director General of the International Finance Bureau.

With this appointment, a Korean national has returned to a vice president-level position at the ADB for the first time in about a year since the retirement of ADB Secretary General Um Woojong.

The Korean government has actively supported the ADB's global public goods and regional integration initiatives, recently contributing $100 million to the Asia-Pacific Innovation Finance Facility (IF-CAP) and $3 million to the Central Asia Regional Economic Cooperation (CAREC) Multidonor Fund.

The Ministry of Economy and Finance stated, "This appointment of the ADB Head of External Relations is a result of the ADB and the international community highly valuing Korea's efforts to contribute to international cooperation."