Korea is currently in tough economic times with high youth unemployment, low birth rate, aging population, growing conflict caused by economic polarization, decreased industrial competitiveness and adverse global trade environment. We are now at the crossroads of prosperity and instability. If we cope with the difficulty successfully we can relish the same level of prosperity as that the core countries enjoy today but if we don’t we might fall into one of the periphery in the global economy. That is why the Moon Jae-in administration set up the “People-centered Economy” as its key policy, accelerating the efforts to get over the difficulties facing the country these days.
The “People-centered Economy” refers to the policy aimed to secure the basic human right to lead a happy life and nurture human capacity.
The policy is based on the belief that the investment in the effort to improve the capacities of Korean people leads to the innovation and competitiveness of the Korean business world and, eventually, solid growth of Korean economy. The idea that the investment in people is the starting point for economic growth and the foundation of the “People-centered Economy”, supported by the three axes of the economic policy of the Moon Jae-in government, income-led growth, innovation-based growth and fair economy for all.
The National Economic Advisory Council is a presidential advisory body providing advices to the president on various economic issues for the success of the “People-centered Economy” policy. Our duties include studying the economic policies of the Korean government from the viewpoints different from those of the government and providing ideas to support the government effort to minimize adverse effects that can come out of the policy and maximize its productive outcome. For the fulfillment of our duties, we will help the government to turn their attention to blind areas of their policy via intensive communication with outside experts and provide timely advices on various pending economic issues and suggestions on the directions of mid and long-term economic policies.
Communication is a process in which people with different views and opinions reach the best possible decisions for the group they belong to through conversations. Therefore, we will listen to every single opinion, suggestion and criticism given to us. We have recently refreshed and reorganized our website for more effective communication between the NEAC and our supporters and critics, so please don’t hesitate to visit this website and leave what you want to say about what we do.
We at the NEAC will continue to exploit the experiences and knowledge we accumulated through the organization for the last forty years and contribute to the economic recovery and the establishment of an exciting vision for the future. We hope you will continue to give us your support and participation.