Appointment of new central bank chief not imminent: Cheong Wa Dae

SEOUL, March 4 (Yonhap) -- South Korea's presidential office said Thursday that
it has no plan to make an immediate decision on whether to retain Lee Seong-tae
as the head of the country's central bank, despite rumors that a former finance
minister has been tapped for the post.
Lee's four-year tenure is to end at the end of this month and his term can be
extended one time under the current law.
His fate as the chief monetary policymaker of Asia's fourth-largest economy
depends on the decision made by President Lee Myung-bak.
"There have been many inquiries from foreign media with regard to the governor of
the Bank of Korea (BOK). But no decision will be announced anytime soon," Cheong
Wa Dae spokesman Park Sun-kyoo said.
South Korea's financial markets fluctuated earlier in the day on rumors that
former finance minister Kang Man-soo had been appointed the next BOK head.
Kang, who now serves as chairman of the Presidential Council on National
Competitiveness, dismissed the speculation as "just an unfounded rumor."
A Cheong Wa Dae official, requesting anonymity, said it would take one or two
more weeks for the president to make a decision and make it public. "President
Lee seems to be having difficulty in making a decision," he said.
Among others thought to be likely candidates are Euh Yoon-dae, chairman of the
Presidential Council on Nation Branding and known for his expertise in
international finance, Kim Jong-chang, governor of the watchdog Financial
Supervisory Service, and Kim Choong-soo, South Korea's ambassador to the
Organization for Economic Cooperation and Development.
lcd@yna.co.kr
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