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South Korea's Shin Hyun-song formally appointed BOK governor, media report says

BY Reuters | ECONOMIC | 08:11 AM EDT

SEOUL, April 20 (Reuters) - South Korean President Lee Jae Myung formally appointed Shin Hyun-song, a Bank of International Settlements (BIS) economist, as governor of the Bank of Korea on Monday, South Korea's Newsis news agency reported.

Shin is set to take office as central bank chief on Tuesday for a four-year term and is expected to chair his first rate-setting monetary policy meeting on May 28. (Reporting by Jack Kim; Editing by Toby Chopra)

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

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