Bank of Korea governor nominee Shin Hyun-song, addressing a conflict-of-interest controversy over his foreign currency asset holdings, said, "More than half has been disposed of so far," adding, "I will dispose of 100% in the short term."
At a confirmation hearing held by the National Assembly's Strategy and Finance Committee on the 15th, Shin received related questions and said, "I have already disposed of a substantial portion and will continue to dispose of the rest," and stated accordingly.
Specifically, Shin said, "I have sold a total of 1.89 billion won worth of ETFs (exchange-traded funds) and U.K. Government Bonds," adding, "I plan to sell other overseas assets in stages."
Earlier, Shin reported that of the total 8.24102 billion won in assets held by himself, his spouse, and his eldest son, 4.57472 billion won (55%) consisted of overseas financial assets and real estate. As the exchange rate rises, the won-converted valuation increases, prompting concerns about a potential conflict of interest.