Exclusive: Government launches Strategic Economic Advisory Group of 60 public-private experts to support Special Envoy Kang Hoon-sik

According to The Financial News, a Strategic Economic Advisory Group made up of 60 experts from both the public and private sectors has been launched. The group is expected to support the activities of Presidential Special Envoy for Strategic Economic Cooperation Kang Hoon-sik, as well as the full cycle of large-scale strategic economic cooperation projects, from design and proposal to implementation. In particular, it plans to actively draw on private-sector capabilities from associations, institutions, companies and consulting firms to develop country-specific economic cooperation models in support of summit diplomacy.
According to the government and other sources on the 12th, the Ministry of Economy and Finance (MOEF) established the advisory group on the 7th and appointed Son Woonggi, Director-General for Economic Supply Chain Planning, as its head. This comes three months after the ministry announced plans to create the advisory group when it unveiled the 2026 Economic Growth Strategy in January.
The advisory group will discuss and provide advice on a range of issues. These include trends in the formulation and implementation of strategic economic policies at home and abroad; developments, outlooks, risks, opportunities and support measures for strategic industries in Korea and overseas; trends and support policies for investment, exports and orders by Korean companies in strategic sectors; forecasts of future economic and social changes such as the transition to artificial intelligence and the ultra-innovation economy, along with response strategies; and other matters related to the design and operation of strategic economic policies.
Including its head, the advisory group is expected to consist of around 60 members. They will be selected from experts with extensive experience and professional insight in fields such as economics, industry, science and technology, finance, taxation, budgeting and law, both in Korea and abroad.
There will also be ex officio members. The Director-General for Innovation and Growth, Ministry of Finance and Economy will serve concurrently as secretary to the advisory group, and the Director General for Strategic Economic Policy, Ministry of Finance and Economy will also sit on the group.
Deputy heads of state-run research institutes in the economic, industrial and science and technology fields will also join. In total, about 60 people are expected to serve as advisory group members for a one-year term, including 20 officials drawn from across government ministries and 40 private-sector experts.
To carry out its work efficiently, the Ministry of Finance and Economy is expected to set up subcommittees within the advisory group by area. Each subcommittee will consist of up to 10 advisory group members, including one subcommittee chair. The chair will be selected by the finance minister from among the members, and a division-level official at the ministry will act as secretary.
In principle, the advisory group will meet once a month, but additional meetings may be convened at the request of the Ministry of Finance and Economy. The group plans to hold plenary sessions attended by all members, as well as separate meetings of each subcommittee.
An official at the Ministry of Finance and Economy explained, "We began forming the advisory group after the announcement of the Economic Growth Strategy," adding, "As the composition of the group has not yet been finalized, we plan to focus on follow-up measures to Special Envoy Kang's current visit to the Middle East and then provide full-fledged support for his subsequent activities."
syj@fnnews.com Seo Young-jun Reporter