Minsu Kwon Appointed as New Deputy Governor of the Bank of Korea

Foreign Exchange Expert from Within the Bank of Korea
"Expected to Play a Key Role in International Finance"

Minsu Kwon (age 56), Deputy Governor in charge of International Finance and Cooperation, has been appointed as the new Deputy Governor of the Bank of Korea.

Kwon Minsu, newly appointed Deputy Governor of the Bank of Korea.

The Bank of Korea announced on August 20 that Deputy Governor Kwon has been appointed to succeed Vice Governor Yoo, whose term has expired. According to the Bank of Korea Act, the Deputy Governor is appointed by the President upon the recommendation of the Governor.

Kwon, who is from Seoul, graduated from Whimoon High School and studied business administration at Yonsei University before joining the Bank of Korea in 1995. While in service, he earned a Master of Business Administration degree from Yale University in the United States.

Since joining the Bank, he has worked for many years in the Reserve Management Group and the International Department, making him one of the Bank’s foremost experts in foreign exchange and international finance.

In recognition of his outstanding professional capabilities, expertise, and contributions, he was appointed Head of the Reserve Management Group in June 2023, and since May 2024, has served as Deputy Governor in charge of International Finance and Cooperation.

The Bank of Korea stated, "During his tenure as Head of the Reserve Management Group, he implemented strategies to enhance profitability while ensuring the safety and liquidity of foreign currency assets in response to changes in the international financial markets." The Bank added, "He spearheaded the establishment and expansion of a leading ESG investment framework and led efforts to strengthen cooperation and policy coordination with international organizations."

Furthermore, the Bank explained that "after being appointed Deputy Governor, he responded proactively to heightened volatility in the foreign exchange market caused by domestic and external geopolitical risks through stabilization measures. He also took a leading role in international organizations and global forums, such as the Bank for International Settlements (BIS), successfully fulfilling the Bank’s international finance responsibilities."

Kwon’s term as Deputy Governor will be three years, from August 21, 2026, to August 20, 2029. He will immediately participate as an ex officio member in the Monetary Policy Board meeting of the Bank of Korea scheduled for August 27.

The Bank of Korea stated, "With his deep knowledge of Korea’s foreign exchange market and foreign currency asset management, as well as the extensive network he has built with both domestic financial institutions and global major investors and international organizations over many years, he is expected to play a key role in representing Korea’s interests and strengthening its position in the international financial community."

This content was produced with the assistance of AI translation services.