Economics professor recommended as new BOK board member

central bank-board member

Economics professor recommended as new BOK board member

SEOUL, May 11 (Yonhap) -- Kim Jin-ill, a professor of economics at Korea University, has been recommended as a new member of the Bank of Korea (BOK)'s monetary policy board, the central bank said Monday.

Recommended by the Korea Federation of Banks, Kim is expected to join the BOK's seven-member policy board as the replacement for Shin Sung-hwan, whose term ends this week.

If appointed by President Lee Jae Myung, Kim will serve as a BOK board member for four years.

The central bank will hold its rate-setting meeting on May 28. It has kept the benchmark interest rate unchanged at 2.5 percent for seven consecutive meetings since July last year.

Prof. Kim Jin-ill is seen in this photo provided by the Bank of Korea. (PHOTO NOT FOR SALE) (Yonhap)