The presidential office is said to be considering candidates for the post of Bank of Korea(BOK) governor.

An official at the top office said on Wednesday that such review efforts have begun as the term of BOK chief Lee Ju-yeol is set to end on March 31.

The central bank governor is selected after the presidential office’s personnel office proposes several candidates and a personnel recommendation committee holds discussions on the selections. The presidential office’s Office of Civil Affairs then vets the candidates before a shortlist is submitted to the president.

The president then selects a final candidate and requests that the National Assembly approve the nomination and hold a confirmation hearing.

The nomination of Lee's successor could come after the March 9 presidential election as the governor's term ends at the end of next month. In such a scenario, the next BOK chief could be picked after consultations with the president-elect.