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Central BanksMediumUpdated•Originally published 22 March 2026•Updated 22 March 2026•
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Hyun Song Shin Nominated as Bank of Korea Governor, Steps Down from BIS

Key Facts

1Hyun Song Shin, a senior official at the BIS, has been nominated as the Governor of the Bank of Korea.
2Shin will step back from his duties at the Bank for International Settlements (BIS) with immediate effect following the nomination.
3Frank Smets will serve as Acting Head of the Monetary and Economic Department at the BIS in the interim.

Hyun Song Shin, the Economic Adviser and Head of Research at the Bank for International Settlements (BIS), has been nominated as the next Governor of the Bank of Korea. Following the announcement, Shin will step back from his current duties at the BIS with immediate effect to prepare for his new role. The BIS confirmed that Frank Smets will serve as the Acting Head of the Monetary and Economic Department during the interim period. Shin is widely recognized as a leading global economist, particularly for his influential work on financial stability and macroprudential policy frameworks. While the leadership transition marks a significant shift for South Korea’s central bank, the immediate market impact remains neutral as investors await clarity on his policy stance. His appointment is expected to bolster long-term confidence in the Korean Won (KRW) due to his extensive international expertise.