Article 1(Purpose) #
The purpose of this Act is to establish the National Economic Advisory Council to provide the President with advice and suggestions on the formulation of important policies for the development of the national economy pursuant to Article 93 of the Constitution of the Republic of Korea, and to prescribe the composition and scope of duties thereof and other necessary matters.
[This Article Wholly Amended on May 2, 2011]
Article 2(Functions) #
The National Economic Advisory Council (hereinafter referred to as the "Advisory Council") shall provide advice on the following matters to the President:
1. Establishing strategies and direction-setting for major policies for developing the national economy;
2. Improving systems for the promotion of national welfare and balanced development and formulating policies therefor;
3. Direction-setting for responding to policies on major domestic and international issues related to the national economy;
4. Other matters referred by the President to the Advisory Council for the development of the national economy.
[This Article Wholly Amended on May 2, 2011]
Article 3(Composition) #
(1) The Advisory Council shall be comprised of 1 chairperson, 1 vice-chairperson, up to 5 ex officio members, up to 30 commissioned members, and nominated members.
(2) The chairperson of the Advisory Council shall be the President, and the vice-chairperson shall be appointed by the chairperson from among commissioned members.
(3) The Minister of Economy and Finance, the secretaries in political service who assist the economic affairs of the Presidential Secretariat, and other persons prescribed by Presidential Decree shall serve as ex officio members. <Amended on Mar. 23, 2013>
(4) Commissioned members shall be commissioned by the President pursuant to Article 4.
(5) Nominated members shall be appointed by the President from among the heads of central administrative agencies, the heads of government-funded research institutes, and other persons prescribed by Presidential Decree, with regard to the agenda items submitted to the Advisory Council, for each meeting.
[This Article Wholly Amended on May 2, 2011]
Article 4(Commissioned members) #
(1) Commissioned members shall be commissioned by the President from among persons with extensive knowledge and experience that can contribute to the development of the national economy, as prescribed by Presidential Decree.
(2) The term of office of a commissioned member shall be 1 year.
[This Article Wholly Amended on May 2, 2011]
Article 5(Chairperson) #
(1) The chairperson shall convene and preside over meetings of the Advisory Council.
(2) The chairperson may have the vice-chairperson perform the duties on his or her behalf, and if the vice-chairperson is unable to perform the duties due to unavoidable reasons, 1 of the members may be appointed to perform the duties on behalf of the chairperson.
[This Article Wholly Amended on May 2, 2011]
Article 6(Meetings) #
(1) Meetings of the Advisory Council shall be classified into meetings comprised of all members and meetings comprised of members designated by the chairperson (hereinafter referred to as "meeting by field").
(2) Notwithstanding Article 5, the chairperson may designate 1 member from among the members of each meeting by field and have him or her convene and preside over the meeting.
(2) A majority of the members of the Advisory Council shall constitute a quorum, and any resolution thereof shall require the concurring vote of at least a majority of those present.
(4) The chairperson may, if deemed necessary, have the heads of relevant agencies or relevant experts attend and speak at meetings of the Advisory Council.
(5) Except as provided in this Act, matters necessary for the operation of the Advisory Council, such as procedures for convening meetings, shall be prescribed by Presidential Decree.
[This Article Wholly Amended on May 2, 2011]
Article 7 #
Deleted. <Feb. 29, 2008>
Article 8(Request for cooperation from relevant Ministries and agencies) #
(1) The Advisory Council may, if deemed necessary, request relevant administrative agencies, public organizations, other institutions and organizations, relevant experts, etc. to submit necessary data or gather opinions from them.
(2) The Advisory Council may, if deemed necessary, designate members of the Advisory Council to conduct investigations and research on specific tasks and to report the results thereof to the Advisory Council.
[This Article Wholly Amended on May 2, 2011]
Article 9(Payment of expenses) #
(1) Allowances and travel expenses may be paid within the budget to persons who are not public officials among the members who attend meetings of the Advisory Council.
(2) If commissioned members conduct investigations and research necessary for the business affairs of the Advisory Council, expenses may be paid within the budget.
[This Article Wholly Amended on May 2, 2011]