Jun Ji-hye, a reporter at the finance desk of The Korea Times, focuses primarily on economic policy and government agencies, mainly covering the Ministry of Finance and Economy, the Ministry of Budget and Planning, the National Tax Service and the Korea Customs Service. She previously covered financial authorities, including the Financial Services Commission and the Financial Supervisory Service, and earlier worked on the political, city and business desks, reporting on a wide range of issues.
World Bank leader lauds new Korean vice president for unique experiences
A participant stands near a logo of the World Bank at the International Monetary Fund and World Bank Annual Meeting 2018 in Nusa Dua, Bali, Indonesia, in this photo taken on Oct. 12, 2018. Reuters-Yonhap
By Jun Ji-hye
Kim Sang-bu / Courtesy of Ministry of Economy and Finance
World Bank President Ajay Banga has expressed expectations that the international financial institution's new Korean vice president, who will be in charge of its digital transformation, will play a key role in assisting the growth of developing nations through digital technologies.
The comments followed Tuesday's announcement of Kim Sang-bu's appointment as the World Bank's first vice president for digital transformation. His term will begin on Sept. 3.
It marked the first time a Korean national has assumed a top-level position at the World Bank since the country joined the organization in 1955.
Jim Yong Kim, also known as Kim Yong, who led the World Bank from 2012 to 2019, was a U.S. citizen.
“Digital technologies, including AI and data, present a unique opportunity to accelerate development,” Banga said.
“The new digital transformation vice presidency will have the critical mission of delivering on this development promise. Kim’s mix of public- and private-sector experience gives him a unique perspective on how the World Bank can deliver more impact, greater scale and support countries on their development journey.”
Kim Sang-bu served as Google’s director of government affairs and public policy for consumer products in the Asia-Pacific region from 2022 until recently.
He also worked at LG Uplus, a Korean mobile carrier, as vice president for corporate strategy, investments and partnerships.
Previously, he held senior positions in various government entities in Korea, including the presidential office, the Korea Communications Commission and the communication ministry.
Korea’s Ministry of Economy and Finance said the appointment showed the world’s recognition of the country’s IT capabilities and will serve as an opportunity to further enhance its standing in the fields of AI and digital technologies.
“We will continue to actively support the advancement of Korean personnel to high-ranking positions in international financial institutions such as the World Bank,” a ministry official said.