Seoul: A parliamentary committee on Monday adopted a confirmation hearing report for Bank of Korea (BOK) Governor-designate Shin Hyun-song, paving the way for his official appointment. The decision by the National Assembly strategy and finance committee followed Shin's confirmation hearing last Wednesday, where he faced scrutiny over allegations related to his family.
According to Yonhap News Agency, opposition lawmakers raised concerns over allegations that Shin's daughter, a British national, was illegally re-issued a South Korean passport. Despite these issues, many committee members emphasized the importance of avoiding a leadership vacuum in the Bank of Korea, especially given the challenging domestic and external economic conditions. Rep. Lim Lee-ja of the main opposition People Power Party, who leads the committee, highlighted this sentiment.
This marks a notable departure from past procedures, as it is the first time since 2014 that a confirmation hearing report for a BOK chief nominee was not adopted on the day of the hearing. The BOK governorship has been subject to the appointment procedure since then. Outgoing BOK Governor Rhee Chang-yong concluded his four-year term earlier in the day.