천병규
Banker; Deputy Governor of the Bank of Korea; 14th Minister of Finance; led the 1962 currency reform
| Life | 1918 ~ 1993 |
| Era | 대한민국 |
| Clan | 영양 천씨 |
Life & career
Cheon Byeong-gyu (1918-1993) was a South Korean banker and politician of the Yeongyang clan, pen name Dongbaek. His father was Cheon Gwan-geun and his mother Gwon Bun-hui. After Andong public school and Daegu high school he studied at the Osaka University commerce college. Wikipedia gives his death date as 19 July 1993 in the text but 1939 in the infobox; this page follows the text.
He joined the Bank of Joseon in 1942 and became the first Tokyo branch manager of the Bank of Korea in 1950. In 1956 he served as Bank of Korea deputy governor and Vice Minister of Finance. As Minister of Finance in 1961 he led the June 10 currency reform and the drafting of the first five-year economic development plan.
In 1963 he was imprisoned for three months over suspected involvement in the securities scandal. He became a director of the Asian Development Bank in 1967, ambassador to Thailand and Laos in 1974 and to Switzerland in 1976, and later a member of the 10th National Assembly (appointed seat, Yujeonghoe).
Finance Minister and the Currency Reform
As Minister of Finance in 1961 Cheon Byeong-gyu handled financial policy at the start of economic reconstruction. Wikipedia says he led the currency reform, but its specific contents and assessment were not confirmed here.
Overseas Posts
He widened his work into economics and diplomacy as director of the Asian Development Bank and ambassador to Thailand and Laos and to Switzerland.
Notes on the Sources
Wikipedia's text and infobox differ on his death year, and the year he entered the National Assembly differs between the election table and text. Such differences need checking against primary sources, so only the broad course of his life is given here.