The National Assembly has adopted a confirmation hearing report on Bank of Korea(BOK) governor nominee Rhee Chang-yong, paving the way for the ex-International Monetary Fund(IMF) regional director to oversee monetary policy for Asia’s fourth largest economy amid growing inflation concerns.  

The Strategy and Finance Committee on Tuesday held a general meeting and adopted a report without votes, following Rhee's confirmation hearing earlier in the day. 

In the report drafted following hours-long cross-examination of the nominee, the committee spoke highly of Rhee’s qualifications, making mention of his former roles as IMF Asia and Pacific Department director and Seoul National University economics professor, among others. 

It expressed a positive opinion of the nominee’s pledge to sincerely fulfill the central bank’s fundamental duty of stabilizing prices as well as the financial system, and going further, to help stabilize the employment market. 

During the hearing, Rhee was pressed over the fact that he is effectively the last nominee for major public office by the Moon Jae-in administration before its five-year term ends next month. 

Moon chose him last month to succeed former BOK Governor Lee Ju-yeol, who retired from the bank after completing two four-year terms.