BOK chief nominee's heavy overseas assets raise eyebrows

Bank of Korea (BOK) Gov. nominee Shin Hyun-song drew scrutiny Monday over his sizable overseas assets, which could raise potential conflicts of interest as he prepares to oversee foreign exchange policy. According to data submitted to the National Assembly ahead of his confirmation hearing, Shin reported total family assets of 8.24 billion won ($5.46 million), including his own holdings, along with those of his spouse and their son. Of that, 4.57 billion won, or 55.5 percent, are overseas financial assets and real estate. Excluding real estate, Shin's financial assets totaled about 4.6 billion won, with roughly 98 percent held abroad. The portfolio includes deposits in U.S. dollars, British pounds and euros, as well as U.K. government bonds. Shin's heavy ratio of foreign assets appears to stem from his decades-long career abroad, including academic posts at Oxford University, the London School of Economics and Princeton University, as well as his latest role as an economic adviser at the Bank for International Settlements. Still, the structure of his assets is expected to face close scru

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