Shin Hyun-song, the nominee for Korea's central bank governor, has stepped down from his duties at the Bank for International Settlements (BIS), according to the international institution. Shin, who had been serving as head of the BIS' Monetary and Economic Department, was nominated Sunday to lead the Bank of Korea (BOK), replacing incumbent Gov. Rhee Chang-yong at the end of his four-year term next month. Following the nomination, Shin "will step back from his duties with immediate effect," the BIS said in an emailed statement. Shin had previously been scheduled to retire from the BIS at the end of August. BIS General Manager Pablo Hernandez de Cos congratulated Shin, describing him as "widely respected within the economics profession and central banking community as a thought leader and trusted adviser." The presidential office has noted Shin's expertise in international finance and macroeconomics, highlighting his combination of academic depth and practical policy experience. His career includes roles as a resident scholar at the International Monetary Fund in 2005 and as a member of th