S. Korea's central bank chief elected to BIS board

SEOUL, May 12 (Yonhap) -- The chief of the Bank of Korea (BOK) has been elected to the highest decision-making body of the Bank for International Settlements (BIS), Seoul's central bank said Tuesday. BOK Gov. Shin Hyun-song was elected to the 18-member board of the Switzerland-based BIS on Monday (local time) and began his three-year term, the BOK said in a press release. With Shin's election, South Korea has maintained a seat on the board since 2019. The board makes decisions on the policy direction of the BIS, consisting of 63 central banks across the world and supervises the institution's management. South Korea joined the BIS in 1997. The BOK said Shin was elected to the board in recognition of the central bank's continued cooperation with the BIS and contribution to discussions on international finance, as well as 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 of the South Korean central bank by President Lee Jae Myung in March. Bank of Korea Gov. Shin Hyun-song delivers a speech during his inauguration in Seoul, in this file photo from April 21, 2026. (Pool photo) (Yonhap) brk@yna.co.kr(END)