BOK Governor Rhee made director of BIS

Bank of Korea Governor Rhee Chang-yong [BOK]

Bank of Korea Governor Rhee Chang-yong has been named a director of the Bank for International Settlements (BIS), an international financial institution that serves as a bank for central banks.

The Switzerland-based BIS recognized Rhee’s experience at major international organizations, including the International Monetary Fund (IMF) and the Asia Development Bank, and networks he had built, according to the Bank of Korea on Tuesday.

It is a three-year term.

Rhee is the second Bank of Korea Governor to serve as a BIS director following predecessor Lee Ju-yeol, who left office in March.

Rhee became head of the Bank of Korea after serving as a director of the Asia and Pacific department at the IMF.

The BIS board of directors consists of 18 members, including the central bank governors of Sweden, the Netherlands and Japan.

BY JIN MIN-JI [jin.minji@joongang.co.kr]