On the 28th, Bank of Korea Governor Lee Chang-yong stated during a press briefing following the Monetary Policy Committee meeting that "it is desirable for members of the Monetary Policy Committee to be individuals with neutral views on the financial market and the macroeconomy, rather than individuals affiliated with specific interest groups."
Recently, opposition was voiced against Rep. Jeon Yong-gi of the Democratic Party of Korea, who proposed a bill to amend the Bank of Korea Act to appoint a labor sector nominee instead of a nominee for the Monetary Policy Committee recommended by the Bank of Korea governor.
Governor Lee noted that, while he had not seen the bill in detail, "if the Monetary Policy Committee is composed of those representing interests, managing the macroeconomy would be difficult."
He added, "It would be difficult to set interest rates if individuals representing specific sectors such as labor and management are gathered together, as setting interest rates is not done by majority vote of interest groups."