Bank of Korea appoints Choi Young-ju deputy governor, taps Yoon Kyung-su for research
In short
The Bank of Korea appointed Choi Young-ju, head of its Financial Markets Bureau, as deputy governor in charge of international and financial cooperation, filling a post that had been vacant, the bank said on October 7. Her term runs from October 8, 2026 to October 7, 2029. The bank also named Yoon Kyung-su, head of its International Bureau, as the incoming head of its Economic Research Institute, a designation that is to become a formal appointment after set procedures.
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The Bank of Korea appointed Choi Young-ju, head of its Financial Markets Bureau, as deputy governor in charge of international and financial cooperation, filling a post that had been vacant, the bank said on October 7. Her term runs from October 8, 2026 to October 7, 2029, according to the bank. [ 2 , 3 , 4 , 5 ]
Choi graduated in economics from Korea University and joined the Bank of Korea in 1997, working in policy departments including the Financial Markets Bureau and the Monetary Policy Bureau, with experience in analysis of domestic and international financial markets, open market operations and support for an emergency response task force, the bank said. She headed the Sustainable Growth Office, where she led analysis work that included conducting climate stress tests, before taking the Financial Markets Bureau, where she worked on policy responses to increased volatility in domestic and international financial markets. [ 2 , 3 , 4 ]
The bank said Choi has a broad understanding of domestic and international financial markets, a fresh perspective and flexible thinking, and that she is expected to effectively support the governor's policy work. It said her expertise from monetary policy and financial market policy work would be extended to international finance, raising the bank's ability to respond to a rapidly changing external financial environment and strengthening the economy's external stability. [ 2 , 3 ]
Separately, the bank named Yoon Kyung-su, head of its International Bureau, as the incoming head of its Economic Research Institute. The bank said he was selected through a screening committee whose members were more than half from outside the bank, with document and interview screening and an interview with the governor, and that he will be formally appointed after set procedures. Outlets also reported his designation using the term for an incoming appointee, indicating the appointment is not yet final. [ 2 , 3 , 4 , 5 ]
Yoon graduated in economics from Korea University and holds a doctorate from Ohio State University in the United States, according to Yonhap. He joined the Bank of Korea in 1998 and served in the International Bureau and the Financial Stability Bureau, and previously worked at the Bank of England as a senior economist, a policy adviser and head of its International Bureau. The bank said he is expected to contribute significantly to strengthening the research institute's policy-related research capacity. [ 2 , 3 ]
The Economic Research Institute head oversees in-depth research on the economy and research exchanges at home and abroad, and serves as chief economist, setting the direction and topics of the bank's medium- and long-term research, according to Asia Economy. [ 2 ]
Why it matters
The appointments fill a vacant deputy governor post and the leadership of the bank's research arm, two roles that bear on how the Bank of Korea formulates and explains policy. The bank said Choi's experience in monetary policy and financial markets work would be extended to international finance, which it linked to responding to a rapidly changing external financial environment and strengthening the economy's external stability. The documents give no further basis for significance beyond the bank's own statements.
Key facts
- Bank of Korea Governor Shin Hyun-song appointed Choi Young-ju, head of the Financial Markets Bureau, as deputy governor for international and financial cooperation, a post that had been vacant. [ 2 , 3 , 4 , 5 ]
- Choi's term runs from October 8, 2026 to October 7, 2029. [ 2 , 5 ]
- Choi joined the Bank of Korea in 1997 and worked in policy departments including the Financial Markets Bureau and the Monetary Policy Bureau, and headed the Sustainable Growth Office before the Financial Markets Bureau. [ 2 , 3 , 4 , 5 ]
- While heading the Sustainable Growth Office, Choi led analysis work that included conducting climate stress tests. [ 2 ]
- Yoon Kyung-su, head of the Bank of Korea's International Bureau, was named as the incoming head of the Economic Research Institute, selected through a screening committee process with document and interview reviews and a governor interview. [ 2 , 3 , 4 , 5 ]
- Yoon holds a doctorate in economics from Ohio State University, joined the Bank of Korea in 1998, and previously served as a senior economist, policy adviser and International Bureau chief at the Bank of England. [ 2 , 3 ]
- The bank said Choi's understanding of domestic and international financial markets would effectively support the governor's policy work, and that Yoon is expected to contribute to strengthening the research institute's policy-related research capacity. [ 2 , 3 ]
Confirmed by several sources
- Choi Young-ju was appointed deputy governor for international and financial cooperation at the Bank of Korea, a position that had been vacant. [ 2 , 3 , 4 , 5 ]
- Yoon Kyung-su was named as the head of the Bank of Korea's Economic Research Institute. [ 2 , 3 , 4 , 5 ]
- Choi joined the Bank of Korea in 1997 and served in policy departments including the Financial Markets Bureau and the Monetary Policy Bureau, and as head of the Sustainable Growth Office and then the Financial Markets Bureau. [ 2 , 3 , 4 ]
- Yoon was selected through a screening committee process involving document screening, interviews and an interview with the governor, and is to be formally appointed after set procedures. [ 2 , 3 ]
- Choi's term as deputy governor runs from October 8, 2026 to October 7, 2029. [ 2 , 5 ]
Still unclear
- Exactly when Yoon Kyung-su will formally take up the Economic Research Institute post. The bank says only that he will be formally appointed after set procedures, and no date is given.
- Whether Yoon Kyung-su's move to the Economic Research Institute leaves the International Bureau post vacant or how it will be filled. The documents do not address the succession at the International Bureau.
- The precise wording of Choi's portfolio, described by Yonhap as international finance and cooperation and by other outlets as international and financial cooperation. Outlets use slightly different names for the same deputy governor post; the documents do not resolve which is the official title.
What local media are saying
Timeline, local time
- Asia Economy reports that the Bank of Korea appointed Choi Young-ju as deputy governor for international and financial cooperation and named Yoon Kyung-su as Economic Research Institute head. [ 2 ]
- Yonhap reports the Choi appointment and Yoon's designation, citing the Bank of Korea. [ 3 ]
- Chosun Ilbo reports Governor Shin Hyun-song's appointment of Choi to the vacant deputy governor post. [ 4 ]
- Chosun Ilbo reports Choi's term as running from October 8 to October 7, 2029. [ 5 ]
- Choi's term as deputy governor begins on October 8, 2026. [ 2 , 5 ]