Bank of Korea governor Lee Ju-yeol has been elected to the board of the Bank of International Settlement.
At the BIS board of directors meeting in Switzerland on Sunday local time, governor Lee was elected as one of the members of the 18-person panel.
This makes Lee the first South Korean central bank governor to take a seat on the board of directors of the BIS, a financial institution made up of 60 central banks across the world to help maintain monetary and financial stability.
He will begin his three-year term starting January next year.