The Korea Times
Shin Hyun-song, the Bank of Korea (BOK) governor nominee, said Monday he has already sold a significant portion of his foreign currency-denominated financial assets and plans to further reduce his exposure. Shin made the remarks in written responses submitted to the National Assembly ahead of his confirmation hearing scheduled for Wednesday, after critics said his portfolio, heavily weighted toward foreign assets, could pose a potential conflict of interest for a future head of the foreign exchange authority. The nominee earlier reported combined assets of 8.24 billion won ($6.1 million) held by himself, his spouse and his eldest son, with 55.5 percent of the total consisting of overseas financial assets and real estate. "I fully understand the concerns that have been raised," Shin said. "A conflict of interest must never occur, and all policy decisions will be made for the interests of the public as a whole." Shin said he has already sold a significant portion of his foreign assets and will gradually reduce the remainder. The won-U.S. dollar exchange rate has been a key policy focus for
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