Rhee Changyong (Korean: 이창용; Hanja: 李昌鏞; born 16 May 1960) is a South Korean economist currently serving as the 26th Governor of the Bank of Korea from April 2022.[1]
Rhee Chang-yong | |
|---|---|
| 이창용 | |
 | |
| 26th Governor of the Bank of Korea | |
| Assumed office 21 April 2022 | |
| Appointed by | Moon Jae-in |
| Preceded by | Lee Ju-yeol |
| Director of Asia and Pacific Department at the IMF | |
| In office 10 February 2014 – March 2022 | |
| Appointed by | Christine Lagarde |
| Preceded by | Anoop Singh |
| Chief Economist of the Asian Development Bank | |
| In office March 2011 – 2013 | |
| Preceded by | Jong-Wha Lee |
| Succeeded by | Shang-Jin Wei |
| Vice Chairman of Financial Services Commission | |
| In office 15 March 2008 – 9 November 2009 | |
| President | Lee Myung-bak |
| Preceded by | post created |
| Succeeded by | Kwon Hyouk-se |
| Personal details | |
| Born | 16 May 1960 Nonsan, South Chungcheong, South Korea |
| Alma mater | Seoul National University (BA) Harvard University (PhD) |
| Academic career | |
| Field | Economics |
| Institution | Seoul National University University of Rochester |
| Doctoral advisor | Lawrence Summers |
In March 2022 President Moon Jae-in tapped Rhee who had led the Asia and Pacific Department at the International Monetary Fund over 8 years for the country's top monetary policy chief upon recommendations from president-elect Yoon Suk-yeol.[2][3][4][5] On 19 April, a nomination hearing was held at the National Assembly where his nomination report was adopted and sent to the President.[6] President Moon appointed Rhee on the following day commencing his four-year term as the Governor[1] to minimise the first-ever vacancy of the Governor in Bank's history.[7]
During the nomination hearing, Rhee vowed to utilise the central bank's "unpopular" tool of base rate to address post-pandemic inflation reiterating the organisation's role in price stabilisation.[6][8]
Prior to moving to the IMF as the first South Korean to join its senior leadership,[9] Rhee was the chief economist at the Asian Development Bank where he worked as its spokesperson and head of its Economic and Research Department.[10] Before joining inter-governmental organisations, he first served as an advisor to multiple South Korean government organisations on economic policies from the early 2000s and then joined the transition team of then-president-elect Lee Myung-bak in 2007. Following President Lee's restructuring of government entities, Rhee took the first deputy role of the Financial Services Commission from 2008 to 2009 before joining the Presidential Committee for the 2010 G-20 Seoul Summit as its Secretary-General and Sherpa.
Rhee holds two degrees in economics - a bachelor from Seoul National University and a doctorate from Harvard University.[4] Rhee completed a doctorate in 1989 at the Harvard University, with Lawrence Summers as his advisor.[11] After his doctoral studies, he taught at economics departments at University of Rochester and Seoul National University.[12]
Honours
editOrder of Civil Merit by the government of South Korea (2011)[13]
References
edit- ^ a b 김, 유아 (2022-04-20). "이창용 한은 총재, 오늘 임명…21일 취임식". Yonhap News Agency (in Korean). Retrieved 2022-04-20.
- ^ "[속보] 文, 새 한은 총재 후보로 이창용 지명…"尹 당선인 측 의견 수렴"". The Korea Economic Daily (in Korean). 2022-03-23. Retrieved 2022-03-23.
- ^ "S.Korea names IMF official Rhee Chang-yong as central bank chief -Yonhap". Reuters. 2022-03-23. Retrieved 2022-03-23.
- ^ a b "Changyong Rhee". IMF. Retrieved 2022-03-23.
- ^ Herald, Korea (2013-11-27). "IMF names ADB economist as Asia-Pacific head". The Korea Herald. Retrieved 2022-03-23.
- ^ a b 박, 상수 (2022-04-19). "(3rd LD) BOK chief nominee vows to adjust monetary policy to tame inflation, engineer 'soft landing' in household debt". Yonhap News Agency. Retrieved 2022-04-20.
- ^ "이창용 후임 지명에도 총재 공백 불가피". 디지털타임스 (in Korean). Retrieved 2022-04-20.
- ^ "Parliament Confirms Rhee Chang-yong as Next Bank of Korea Chief". KBS World Radio. Retrieved 2022-04-20.
- ^ 오, 창민 (2013-11-27). "한국인 최초로 IMF 아·태국장 임명된 이창용씨 "아시아 목소리 반영 노력"". m.khan.co.kr (in Korean). Retrieved 2022-03-23.
- ^ "Asia and Pacific Regional Economic Outlook". PIIE. 2016-03-02. Retrieved 2022-03-23.
- ^ "Rhee Chang-yong promises balance when he heads Bank of Korea". Korea JoongAng Daily. Retrieved 21 April 2022.
- ^ "Chang Yong Rhee". www.bloomberg.com. Retrieved 2022-03-23.
- ^ "MB, 서울 G20정상회의 유공자 훈-포장 수여". 뉴데일리 (in Korean). 2011-06-20. Retrieved 2022-03-28.