{{Short description|South Korean economist (born 1960)}} {{Family name hatnote|Rhee||lang=Korean}} {{Infobox officeholder | native_name = {{nobold|이창용}} | image = Speaker Woo Won-shik visits Bank of Korea to discuss stabilizing financial markets (cropped).jpg | caption = Rhee in 2024 | birth_date = {{birth date and age|1960|05|16|df=y}} | birth_place = Nonsan, South Korea | alma_mater = Seoul National University (BA)<br />Harvard University (PhD) | office1 = 27th Governor of the Bank of Korea | appointer1 = Moon Jae-in | term_start1 = 21 April 2022 | term_end1 = 20 April 2026 | predecessor1 = Lee Ju-yeol | successor1 = Hyun Song Shin | module = {{Infobox economist | embed = yes | institution = Seoul National University<br />University of Rochester | field = Macroeconomics | thesis_title = | thesis_year = | thesis_url = | doctoral_advisor = Lawrence Summers}} }}
'''Rhee Chang-yong''' ({{korean|hangul=이창용|hanja=李昌鏞}}; born 16 May 1960) is a South Korean economist who served as the 27th Governor of the Bank of Korea, from April 2022 to April 2026.<ref name=":1">{{Cite web |last=김 |first=유아 |date=2022-04-20 |script-title=ko:이창용 한은 총재, 오늘 임명…21일 취임식 |url=https://www.yna.co.kr/view/AKR20220420088400002 |access-date=2022-04-20 |website=Yonhap News Agency |language=ko}}</ref>
==Early life and education== Rhee was born in Nonsan, South Korea, in 1960.<ref>{{cite news |last=Park |first=Seung-hee |date=November 29, 2013 |title=Korean set to lead IMF’s Asia-Pacific Department |url=https://koreajoongangdaily.joins.com/2013/11/29/people/Korean-set-to-lead-IMFs-AsiaPacific-Department/2981262.html |work=Korea Joongang Daily |location= |publisher= |access-date=}}</ref> Rhee holds two degrees in economics - a bachelor from Seoul National University and a doctorate from Harvard University.<ref name=":0" /> Rhee completed a doctorate in 1989 at the Harvard University, with Lawrence Summers as his advisor.<ref>{{cite web|url=https://koreajoongangdaily.joins.com/2022/03/24/business/finance/rhee-changyong-bank-of-korea-central-bank/20220324182605318.html|title= Rhee Chang-yong promises balance when he heads Bank of Korea |publisher=Korea JoongAng Daily |date= 24 March 2022|access-date=21 April 2022}}</ref> After his doctoral studies, he taught at economics departments at University of Rochester and Seoul National University.<ref>{{Cite web |title=Chang Yong Rhee |url=https://www.bloomberg.com/profile/person/17853486 |access-date=2022-03-23 |website=www.bloomberg.com}}</ref>
==Early Career== Prior to moving to the IMF as the first South Korean to join its senior leadership,<ref>{{Cite web |last=오 |first=창민 |date=2013-11-27 |script-title=ko:한국인 최초로 IMF 아·태국장 임명된 이창용씨 "아시아 목소리 반영 노력" |url=https://m.khan.co.kr/economy/finance/article/201311270814081 |access-date=2022-03-23 |website=Kyunghyang Shinmun |language=ko}}</ref> Rhee was the chief economist at the Asian Development Bank where he worked as its spokesperson and head of its Economic and Research Department.<ref>{{Cite web |date=2016-03-02 |title=Asia and Pacific Regional Economic Outlook |url=https://www.piie.com/events/asia-and-pacific-regional-economic-outlook |access-date=2022-03-23 |website=PIIE |language=en}}</ref> Before joining inter-governmental organisations, he first served as an advisor to multiple South Korean government organisations on economic policies from the early 2000s and then joined the transition team of then-president-elect Lee Myung-bak in 2007. Following President Lee's restructuring of government entities, Rhee took the first deputy role of the Financial Services Commission from 2008 to 2009 before joining the Presidential Committee for the 2010 G-20 Seoul Summit as its Secretary-General and Sherpa.
==Governor of the Bank of Korea== In March 2022 President Moon Jae-in tapped Rhee who had led the Asia and Pacific Department at the International Monetary Fund over 8 years for the country's top monetary policy chief upon recommendations from president-elect Yoon Suk Yeol.<ref>{{Cite web |date=2022-03-23 |script-title=ko:[속보] 文, 새 한은 총재 후보로 이창용 지명…"尹 당선인 측 의견 수렴" |url=https://www.hankyung.com/politics/article/2022032347247 |access-date=2022-03-23 |website=The Korea Economic Daily |language=ko}}</ref><ref>{{Cite news |date=2022-03-23 |title=S.Korea names IMF official Rhee Chang-yong as central bank chief -Yonhap |language=en |work=Reuters |url=https://www.reuters.com/article/southkorea-economy-cenbank-idINL3N2VQ0RY |access-date=2022-03-23}}</ref><ref name=":0">{{Cite web |title=Changyong Rhee |url=https://www.imf.org/en/About/senior-officials/Bios/changyong-rhee |access-date=2022-03-23 |website=IMF |language=en}}</ref><ref>{{Cite web |date=2013-11-27 |title=IMF names ADB economist as Asia-Pacific head |url=http://www.koreaherald.com/view.php?ud=20131127001056 |access-date=2022-03-23 |website=The Korea Herald |language=en}}</ref> On 19 April, a nomination hearing was held at the National Assembly where his nomination report was adopted and sent to the President.<ref name=":2">{{Cite web |last=박 |first=상수 |date=2022-04-19 |title=(3rd LD) BOK chief nominee vows to adjust monetary policy to tame inflation, engineer 'soft landing' in household debt |url=https://en.yna.co.kr/view/AEN20220419002253320 |access-date=2022-04-20 |website=Yonhap News Agency |language=en}}</ref> President Moon appointed Rhee on the following day commencing his four-year term as the Governor<ref name=":1" /> to minimise the first-ever vacancy of the Governor in Bank's history.<ref>{{Cite web |script-title=ko:이창용 후임 지명에도 총재 공백 불가피 |url=http://www.dt.co.kr/contents.html?article_no=2022032402100863056003 |access-date=2022-04-20 |website=디지털타임스 | date=23 March 2022 |language=ko}}</ref>
During the nomination hearing, Rhee vowed to utilise the central bank's "unpopular" tool of base rate to address post-pandemic inflation reiterating the organisation's role in price stabilisation.<ref name=":2" /><ref>{{Cite web |title=Parliament Confirms Rhee Chang-yong as Next Bank of Korea Chief |url=http://world.kbs.co.kr/service/news_view.htm?lang=e&Seq_Code=169093 |access-date=2022-04-20 |website=KBS World Radio |language=en}}</ref>
On April 18, 2024, Rhee attended the G20 Meeting of Finance Ministers and Central Bank Governors in Washington, D.C. and the International Monetary Fund-World Bank Group (WBG) Spring Conference. Later, on April 21, the meeting period, he was selected as the winner of the American Foreign Policy Association's medal and will participate in the ceremony.<ref>{{Cite web |date=2025-04-18 |title=이창용 한은 총재, G20·IMF 회의 참석…FPA 메달 받는다 |url=https://www.news1.kr/economy/trend/5757577 |access-date=2025-04-18 |website=뉴스1 |language=ko}}</ref>
On April 20, 2026, Rhee finished his term as the Governor of the Bank of Korea.<ref>{{Cite web |title=Outgoing central banker |url=https://en.yna.co.kr/view/PYH20260420111300315 |access-date=2026-04-20 |website=Yonhap News Agency |language=en}}</ref>
== Honours == * alt=|25x25px Order of Civil Merit by the government of South Korea (2011)<ref>{{Cite web |date=2011-06-20 |title=MB, 서울 G20정상회의 유공자 훈-포장 수여 |url=https://www.newdaily.co.kr/site/data/html/2011/06/20/2011062000077.html |access-date=2022-03-28 |website={{ill|Newdaily|ko|뉴데일리}} |language=ko}}</ref>
== References == {{Reflist}}
==External links== * [https://www.imf.org/en/about/senior-officials/archive/changyong-rhee Biography] at the International Monetary Fund * {{C-SPAN|145007}}
{{Authority control}}
Category:Living people Category:1960 births Category:Harvard University alumni Category:Seoul National University alumni Category:Academic staff of Seoul National University Category:University of Rochester faculty Category:International Monetary Fund people Category:South Korean government officials Category:South Korean economists Category:Governors of the Bank of Korea Category:People from Nonsan