Bank of Korea Governor Shin Hyun-song has been elected to the 18-member board of the Switzerland-based Bank for International Settlements.
Governor Shin Hyun-song was elected to the board on Monday local time and began his three-year term, the Bank of Korea said in a Tuesday press release. With the election, South Korea has maintained a seat on the board since 2019.
The board sets the policy direction of the BIS, which consists of 63 central banks worldwide, and oversees the institution's management. South Korea joined the BIS in 1997.
The central bank said Shin was elected in recognition of its continued cooperation with the BIS, contributions to international finance discussions, and the reputation he built during his career at global organizations including the BIS. Shin previously served as head of the monetary and economic department at the BIS before being appointed governor by President Lee Jae Myung in March.
