SEOUL, October 7 (AJP) — The Bank of Korea named two career officials with extensive financial-market and international finance experience to senior posts Wednesday, appointing Choi Young-joo as deputy governor and selecting Yoon Kyoung-soo as its next chief economist.
Choi, currently director general of the Financial Markets Department, will oversee international finance and cooperation for a three-year term beginning October 8.
He joined the Bank of Korea (BOK) in 1997 and spent much of his career in the Financial Markets and Monetary Policy departments, working on market analysis, open market operations and policy responses to financial volatility.
Choi later headed the Office of Sustainable Growth, where he led work including climate stress testing, before becoming director general of the Financial Markets Department in August.
The central bank said that Choi's experience in monetary policy and financial markets would help him respond to rapidly changing external financial conditions and strengthen the economy's external stability.
Yoon, currently director general of the International Department, was also selected to head the central bank's Economic Research Institute and serve as chief economist following an open recruitment process.
Yoon holds a doctorate in economics from Ohio State University and has conducted research in international economics and financial markets.
Since joining the BOK in 1998, he has worked in the International and Financial Stability departments, served on secondment at the Bank of England and later worked as an adviser to the governor. He has led the International Department since May 2024.
As chief economist, Yoon will oversee the Economic Research Institute and help set the central bank's medium- to long-term research agenda and priorities.
The BOK said Yoon's research background, policy experience and leadership would help strengthen the institute's policy-oriented research.
Yoon was selected after document screening and interviews by a committee made up mostly of outside members, followed by an interview with the governor. He will be formally appointed after completing the remaining procedures.
The appointments put officials with deep market and international finance experience in charge of two areas closely tied to the BOK's external policy response and longer-term research agenda.
AJP Takeaways
- The Bank of Korea appointed Choi Young-joo as deputy governor for international finance and cooperation for a three-year term beginning October 8.
- Yoon Kyoung-soo was selected as chief economist after a career spanning international finance, financial stability and policy advisory roles.
- Both appointments draw on officials with extensive financial-market and international policy experience.
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