On June 24 (Thursday), the 4th National Economic Advisory Council of President Moon’s Administration was officially launched. Hoyeong LEE, Executive Director of the Digital Economy & Society Research Division at the Korea Information Society Development Institute (KISDI), was reappointed as a member of the Sub-council on Innovative Economy. The National Economic Advisory Council is a government agency that was established to offer advice to the President when setting important policies related to the development of the national economy (Legal basis: Article 93, Paragraph 1 of the Constitution). Together with the Presidential Advisory Council on Science & Technology and the Peaceful Unification Advisory Council, it is one of three major advisory bodies authorized by the Constitution.

The National Economic Advisory Council is made up of four sub-councils: Sub-council on Macroeconomy, Sub-council on Livelihood Economy, Sub-council on Innovative Economy, and Sub-council on International Economy. Following his first appointment last year, Director Lee was reappointed as a civilian member of the Sub-council on Innovative Economy for a term of office of one year.

With the appointment of advisors with knowledge and insights on the macroeconomy, social welfare, industry, and trade, the 4th National Economic Advisory Council is expected to fully play its role as a presidential advisory body in setting the country’s economic policies.