President Park Yang-su, Former Head of Korea Economic Research Institute, Appointed as SGI Director of KCCI

Appointed on the 31st of Last Month
"Will Propose Rational and Tangible Policy Alternatives"

Park Yang-su, former Director of the Economic Research Institute at the Bank of Korea, was appointed on the 31st of last month as the 3rd Director of the Korea Chamber of Commerce and Industry’s SGI (Sustainable Growth Initiative).

New Director Park graduated from Korea University with a degree in Economics and earned his Ph.D. in Economics from the University of Illinois, USA. During his 32 years at the Bank of Korea, he held key positions in the Research Department, Policy Planning Department, Financial Stability Department, and the New York Office, gaining a reputation as an expert in economic forecasting and macroeconomic analysis. Since 2017, he has served as Head of the Gwangju-Jeonnam Headquarters, Director of the Economic Statistics Bureau, and Director of the Economic Research Institute.

Director Park has also contributed to making complex economic issues more accessible to the public through his writings, including The Practice of Economic Forecasting: The Integrated Art of Intuition and Models (2011), Debt Economics and Household and Government Debt in Korea (2012), and The Heretical Economics for 21st Century Capital: Revisiting the New Paradigm of the Global Economy (2017).

The KCCI SGI is a private think tank established in May 2018 to conduct in-depth research on various economic issues surrounding businesses. Its goal is to provide balanced diagnoses of economic conditions and propose sustainable growth alternatives.

Park Yang-su, New Director of SGI at the Korea Chamber of Commerce and Industry [Photo by Korea Chamber of Commerce and Industry]

Director Park stated, “Our economy is currently facing a critical situation where, in the short term, we must overcome risks of low growth and financial instability and revitalize economic activity, while also addressing economic fragmentation caused by strengthening value-based trade, such as economic security and climate crisis response. We need to find solutions for achieving carbon neutrality and securing new growth engines.”

He added, “KCCI SGI must serve as a guide for domestic companies during this major economic paradigm shift. To support corporate management activities, we will create an SGI that accurately diagnoses the current economic situation and produces rational and tangible policy alternatives.”

With the new director’s inauguration, SGI presented its vision to become a leading private think tank in Korea by conducting research on ‘Economic Situation Diagnosis and Forecasting,’ ‘Solving Structural Problems of the Korean Economy,’ and ‘Carbon Neutrality Strategy Research.’ Detailed research tasks include measures to enhance economic vitality, strengthening industrial competitiveness in response to changes in the global value chain, supporting the establishment of a carbon neutrality performance reward system, and fostering innovation infrastructure for carbon neutrality technologies.

SGI plans to strengthen networking and collaboration with other research institutions and major academic societies and to ensure timely policy research is provided when there is demand from the government and businesses. An SGI official said, “Future research outcomes will be promoted through various channels such as seminars and YouTube to increase accessibility for the general public and disseminate results widely.”