Shin Hyun-song, nominee for Governor of the Bank of Korea, arrives at a preparatory office for his confirmation hearing in Jung-gu, Seoul on February 17. (Photo courtesy of Yonhap News Agency)

 

 

[Alpha Biz= Paul Lee] Controversy has emerged over the family of Shin Hyun-song, nominee for Governor of the Bank of Korea, after it was revealed that his daughter allegedly obtained a Korean passport despite having lost her Korean citizenship.

According to materials obtained by lawmaker Chun Ha-ram of the National Assembly’s Strategy and Finance Committee, Shin’s daughter acquired a new Korean passport in November 2022, valid through November 2027.

The issue centers on her nationality status at the time. Born in 1991, she reportedly acquired British citizenship in 1999, which resulted in the automatic loss of her Korean nationality under Korean law. However, she is said not to have completed the required administrative process of reporting the loss of nationality.

Under current regulations, a Korean passport becomes invalid once citizenship is lost. Nevertheless, her previous passport reportedly remained valid, and when she applied for renewal, authorities treated her as a Korean national and issued a new passport without additional verification.

Legal experts note that obtaining a passport through improper means could constitute a violation of the Passport Act, which carries penalties of up to three years in prison or a fine of up to KRW 30 million.

The controversy deepened after it was revealed that she used the reissued Korean passport during a departure to the United States in January last year, despite being aware of her British nationality.

The issue has added pressure on Shin’s confirmation process. Notably, since the introduction of confirmation hearings for Bank of Korea governor nominees in 2014, this marks the first case in which a hearing report was not adopted on the day of the hearing.

Critics have described the case as an “administrative fraud,” questioning the nominee’s suitability for leading the central bank.

 

 

 

 

AlphaBIZ Paul Lee(hoondork1977@alphabiz.co.kr)