Former Finance Minister Hyun Oh-seok has been chosen as a member of the Asian Infrastructure Investment Bank’s(AIIB) International Advisory Panel.

The Finance Ministry announced on Monday that Hyun will be working for the panel of around ten members advising the China-led regional bank on strategies and key issues.

The AIIB also decided to place Korea Securities Depository Chairman and CEO Yoo Jae-hoon on the directoral post of Controller, charged with advising senior management on financial reporting and overseeing the bank’s accounting.
 
Lee Dong-ik, former chief investment officer of Korea Investment Corp., will also join the AIIB as an operational adviser to private-sector investment.
 
When former Vice President and Chief Risk Officer Hong Ky-ttack took a leave in June, the bank lowered the level of his position while creating a chief financial officer post. The bank sought to recruit for the new post and three director-level posts for finance, accounting and risk management since July.