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(Seoul = Yonhap News) Reporter Kim Yu-ah = The Bank of Korea announced on the 10th that President Chang-yong Lee was elected as a director at the regular board of directors of the Bank for International Settlements (BIS) held on the 9th.
The term of office for the BIS Board of Directors is three years.
The BIS Board of Directors is the highest decision-making body of BIS, with 18 members including 6 ex officio directors (Governors of founding member countries such as Belgium, France, Germany, Italy, USA and UK), 1 appointed director, and 11 elected directors.
The elected director is the governor of the central bank of a member country, elected by a two-thirds majority of the board of directors, including Korea, Sweden, the Netherlands, Sweden, Japan, China, India, Brazil, the European Central Bank (ECB), Canada, Mexico, etc. It is made up of a governor.
The BOK explained, “This election is the result of the BIS governor’s steady contribution to meetings and discussions on major issues, and the recognition of Lee’s experience and network in major international organizations such as the International Monetary Fund (IMF).”
kua@yna.co.kr
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2022/05/10 11:00 Send
