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Lee Joo-yeol gets 2nd term as BOK chief

Posted March. 03, 2018 07:47,   

Updated March. 03, 2018 07:47


President Moon Jae-in nominated incumbent Bank of Korea Governor Lee Joo-yeol as the central bank’s next chief on Friday. If inaugurated through a parliamentary confirmation hearing, Lee will be the first Bank of Korea governor to win a second term in 40 years since former Governor Kim Seong-hwan served from 1970 to 1978. Hailing from Wonju, Gangwon Province, Lee has been serving his first term since April 2014.

“Nominee Lee’s reappointment reflects President Moon Jae-in’s commitment to ensure the Bank of Korea’s independence and autonomy,” said presidential spokesperson Kim Ui-gyeom.

Lee was appointed after undergoing a confirmation hearing for the first time in line with the revised Bank of Korea Act. If he passes the upcoming confirmation hearing again, he will serve his second four-year term through April 2022.

Sang-Jun Han alwaysj@donga.com · Jun-Il Kim jikim@donga.com