President Moon Jae-in decided to reappoint Bank of Korea Governor Lee Ju-yeol to a second four-year term Friday. 

Under his term, the BOK secured and extended currency swap arrangements with other countries, enhancing South Korea’s emergency preparedness in the event of a financial crisis.  

Lee's four-year term was set to expire at the end of this month, but he is now set to become the second person to serve a second term as the head of the central bank. 

Earlier bank chief Kim Sung-hwan served in the role between 1970 and 1978.