Moon approves appointment of new central bank chief

SEOUL-- President Moon Jae-in approved the appointment of Rhee Chang-yong as the new head of the central bank Wednesday.

Moon confirmed his appointment of Rhee as the new governor of the Bank of Korea (BOK) at around 6:30 p.m., presidential spokesperson Park Kyung-mee said in a text message sent to reporters.

Rhee, former director of the Asia and Pacific department at the International Monetary Fund, will officially begin his four-year tenure following his inauguration ceremony at 3 p.m. Thursday.

His parliamentary confirmation hearing took place Tuesday. The National Assembly's planning and finance committee adopted a report on the findings of the hearing, which was largely considered a formality.

Rhee, 61, is succeeding Lee Ju-yeol, who has been at the BOK helm for eight years.

Source: Yonhap News Agency