History

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1987
1987.10

Established a legal basis for setting up NEAC (Article 93 of the Constitution).

1999
1999.08

The National Economic Advisory Council Act was passed by the National Assembly.

  • - Regulations on the organization and work scope of NEAC and other requirements were established.
1999.09

Regulations on the operation of NEAC were passed.

1999.11

NEAC began its operation.

2001
2001.01

Expanded the number of NEAC members and adjusted the term length.

  • - Expanded the number of civilian members of NEAC (10 persons → 30 persons), adjusted the term length (2 years → 1 year).
2003
2003.05

After the start of President Roh’s Administration, the NEAC was reorganized to strengthen its advisory function.

  • - Separate meetings were instituted for each section such as macroeconomic and trade & industry: the report-based advising system was also adopted.
2008
2008.02

The National Economic Advisory Act was amended.

  • - The secretariat office was closed, and the duties and responsibilities of the office were assumed by the Presidential Chief of Staff.
2013
2013.04

Regulations on the operation of the NEAC were amended.

  • - Establishment of a secretariat, reorganization of sectoral meetings: Macro-Finance, Welfare Economy, Fair Economy, Creative Economy
2015
2015.06

Regulations on the operation of the NEAC were amended.

  • - Reorganization of sectoral meetings: Basic Economy I, Basic Economy II, Innovation Economy, Balanced Economy
2017
2017.05

President Moon appointed the NEAC Vice Chair.

  • - Kim Kwang-doo, Distinguished Professor of Sogang University
2017.09

Regulations on the operation of NEAC were amended.

  • - Reorganization of sectoral meetings: Macroeconomic, Welfare Economy, Innovative Economy, International Economy
2017.12

NEAC began its operation under President Moon’s Administration.

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