President Lee Jae-myung appointed Kwon Min-soo as senior deputy governor of the Bank of Korea (BOK), South Korea's central bank, on Aug. 20. Kwon, 56, will serve a three-year term from Aug. 21, 2026, to Aug. 20, 2029, filling the vacancy created by former Senior Deputy Governor Yoo Sang-dae's retirement. A leading BOK expert in foreign exchange and international finance, Kwon has led market-stabilization measures during periods of heightened volatility. He is expected to play a central role in the government's and the BOK's efforts to internationalize the won and represent South Korea in the global financial community. His appointment restores the Monetary Policy Board's full seven-member composition ahead of its Aug. 27 benchmark interest-rate meeting.