Home

The Korea Herald

Latest news

Most Popular

  1. 1

    Contentious grain bill put directly to plenary meeting for vote

    Contentious grain bill put directly to plenary meeting for vote
  2. 2

    Yoon's approval rating plunges to all-time low

    Yoon's approval rating plunges to all-time low
  3. 3

    Will tug-of-war between doctors, government end soon?

    Will tug-of-war between doctors, government end soon?
  4. 4

    Climate impacts set to cut 2050 global GDP by nearly a fifth

    Climate impacts set to cut 2050 global GDP by nearly a fifth
  5. 5

    Trilateral talks acknowledge ‘serious’ slumps of won, yen

    Trilateral talks acknowledge ‘serious’ slumps of won, yen
  1. 6

    [Graphic News] More Koreans say they plan long-distance trips this year

    [Graphic News] More Koreans say they plan long-distance trips this year
  2. 7

    [KH Explains] Hyundai's full hybrid edge to pay off amid slow transition to pure EVs

    [KH Explains] Hyundai's full hybrid edge to pay off amid slow transition to pure EVs
  3. 8

    North Korea removes streetlights along cross-border roads with South

    North Korea removes streetlights along cross-border roads with South
  4. 9

    Russia's denial of entry of S. Korean national unrelated to bilateral ties: Seoul official

    Russia's denial of entry of S. Korean national unrelated to bilateral ties: Seoul official
  5. 10

    Farming households dip below 1m for first time in 2023

    Farming households dip below 1m for first time in 2023
지나쌤

BOK chief Lee Ju-yeol elected to BIS board

By Yonhap

Published : Nov. 13, 2018 - 17:23

    • Link copied

Bank of Korea Gov. Lee Ju-yeol has been elected to the board of the Bank of International Settlements, the central bank in South Korea said Tuesday.

At the BIS board of directors meeting in Basel, Switzerland, on Sunday, Lee became the 11th member of the 18-person panel, according to the BOK.

He will start his three-year term in January next year.


BOK Gov. Lee Ju-yeol (Yonhap) BOK Gov. Lee Ju-yeol (Yonhap)

"This appointment recognizes the importance of Asia in the global financial system and in the BIS's activities and governance.

Moreover, it reflects the important role played by Korea in the global economy," Chairman Jens Weidmann said in a press release.

Lee is the first South Korean central bank governor to take a seat on the board of directors of the BIS, a group made up of 60 central banks across the world. South Korea joined the BIS in 1997.

The board makes decisions on the strategic and policy direction of the BIS and supervises the institution's management. It holds six regular meetings every year.

Starting in 2019, the board will cut back on its sitting members from the current 21 to 18, including 11 elected directors. (Yonhap)

More from Headlines