Bank of Korea Governor appointed to lead BIS payment standards committee

Bank of Korea Governor Shin Hyun-song was appointed chair of the Committee on Payment and Market Infrastructures (CPMI) under the Bank for International Settlements. This appointment makes him the first person from outside the United States and Europe to lead the body. The CPMI is responsible for developing international standards to ensure the safety and efficiency of payment systems and financial market infrastructure.

The CPMI sets standards that underpin financial regulations in major economies. The appointment reflects the Bank of Korea's growing expertise in payment innovation, including digitalization and tokenization. The Bank of Korea expects this leadership role to raise the international profile of its initiatives to modernize payment systems.