The National Assembly on Monday adopted the confirmation hearing report for Bank of Korea governor nominee Shin Hyun-song, clearing the way for his appointment after days of delay.
Shin, former head of the Monetary and Economic Department at the Bank for International Settlements, was nominated in March to succeed outgoing Gov. Rhee Chang-yong, whose term ended the same day.
The National Assembly’s Strategy and Finance Committee approved the report during a plenary session through a bipartisan agreement.
“Given the severity of economic conditions at home and abroad, the BOK governor post should not be left vacant even briefly,” committee chair Lim Lee-ja said, stressing the need to avoid a leadership vacuum at the central bank.
The approval follows an unusual delay. The committee failed to adopt the report last week — the first such case since confirmation hearings for the BOK governor were introduced in 2014 — amid opposition concerns over the alleged illegal reissuance of Shin’s daughter’s passport.
A follow-up plenary session on Friday also ended without agreement, extending the deadlock.
With the report now adopted, it will be submitted to the government. Shin is expected to assume office shortly, pending final approval from President Lee Jae Myung, and will serve a four-year term.
Meanwhile, Rhee formally stepped down Monday following a departure ceremony earlier in the day.
silverstar@heraldcorp.com
