Senior official appointed as BOK's No. 2

Kwon Min-soo, a deputy governor at the Bank of Korea (BOK), has been appointed as the central bank's No. 2 official, the bank announced Thursday.

Kwon, previously a deputy governor in charge of international finance and cooperation, has been named the BOK's senior deputy governor for a three-year term ending Aug. 20, 2029, according to the BOK.

The president names the central bank's senior deputy governor at the recommendation of the governor.

Upon his appointment, Kwon will join the bank's committee in charge of setting benchmark interest rates, beginning with a rate-setting meeting scheduled for next Thursday.

Kwon is an international finance expert who has spent most of his career at the BOK's reserve management group, its international affairs department and the New York office.