Bank of Korea governor who signed the IMF letter of intent in December 1997; first economic deputy premier under Kim Young-sam
Born in Uiseong, North Gyeongsang, Lee graduated in commerce from Korea University and joined the research department of the Bank of Korea in 1957. He was head of planning at the Economic Planning Board, vice minister of communications, and president of Daewoo Motor and Korea Gas Corporation. As the first deputy prime minister and Minister of Economic Planning under Kim Young-sam in 1993 he took part in introducing the real-name financial system, and he was dismissed at the end of that year over the agreement to open the rice market. As Governor of the Bank of Korea from 1995 he drew up with Deputy Prime Minister Kang Kyung-shik a reform that gave up bank supervision in exchange for greater independence in monetary policy, and on 3 December 1997 he signed the letter of intent to the IMF with Deputy Prime Minister Lim Chang-yuel. He left office in March 1998.
Activities and affiliations
-
1961–1979
South Korea state institutionsEconomic Planning Board official and vice minister of communications
Economy, finance and planning -
1993
South Korea state institutionsDeputy Prime Minister and Minister of Economic Planning
Economy, finance and planning -
1995–1998
South Korea state institutionsGovernor of the Bank of KoreaMain
Economy, finance and planning
Career Timeline
- 1957Joined the research department of the Bank of Korea
- 1971Head of planning, Economic Planning Board
- 1976.04–1979.12Vice Minister of Communications
- 1991.03–1993.02President of Korea Gas Corporation
- 1993.02–12Deputy Prime Minister and Minister of Economic Planning
- 1995.08–1998.03Governor of the Bank of Korea
- 1997.12.03Signed the letter of intent to the IMF