December 29, 2009 11:20
President Lee Myung-bak on Monday named Princeton University economics professor Shin Hyun-song as his chief adviser on international economy.
Shin is a heavyweight in financial and monetary policy. He predicted the subprime mortgage crisis, which dealt a grave blow to the U.S. and global economy last year.
"With the nation's hosting of the G20 summit next year, Professor Shin will advise the President on how to expand Korea's role in the global economy and reform the Korean financial system to help the sustainable growth of the world economy," a Cheong Wa Dae official said.
Born in the southern city of Daegu, Shin graduated from Emanuel High School in the U.K. and earned a doctorate degree in economics from Oxford University. He taught at both Oxford and the London School of Economics before moving to Princeton in 2006.
Shin served as an adviser to the Bank of England and is a member of the Financial Advisory Roundtable at the Federal Reserve Bank of New York. It is known that he recently accepted the offer for the presidential advisory post and will begin the year-long contract position from early next year.
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