Bank of Korea’s New Chief Signals Flexible Policy Amid Oil Risks

South Korea’s new central bank chief signaled a cautious and flexible approach to monetary policy as higher oil prices add to inflation pressures while clouding the outlook for economic growth.

Shin Hyun Song, who took office Tuesday succeeding Rhee Chang Yong, also signaled a longer-term need to reassess the role of the central bank, saying structural challenges such as demographic shifts, inequality and the property market should be considered an integral part of monetary policy.