The National Assembly's Strategy and Finance Committee will hold a confirmation hearing on Wednesday for Bank of Korea Governor Lee Ju-yeol, who has been reappointed for a second term. 

In a confirmation hearing request submitted earlier, President Moon Jae-in said he renamed Lee for the top post because there is a need to maintain consistency in monetary policies for economic stability in the long-run. He also stressed the need to respect the neutrality and autonomy of the central bank as another reason for Lee’s reappointment. 

Earlier on March second, Moon reappointed Lee to a second four-year term.

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