Overview
- Shin Hyun-song, who took office Tuesday after lawmakers adopted his confirmation report Monday and the president signed off, set a cautious and flexible policy tone in his inaugural remarks.
- He said the Middle East war has pushed up oil prices, which raises inflation pressure and weighs on growth, and he warned that market volatility and financial risks are building.
- On the currency, he plans 24-hour foreign-exchange trading and an offshore won settlement system, and he has pointed to offshore forwards and the U.S.–Korea rate gap as key forces weakening the won near 1,500 per dollar.
- He prioritized central bank digital money and bank deposit tokens through Project Hangang and cross-border Project Agora, and his speech did not mention stablecoins as lawmakers debate rules for them.
- He vowed stronger early-warning tools that rely more on market prices and wider tracking of nonbank risks, and he will chair his first interest-rate decision on May 28.