Former Korean Prime Minister Nam Duck-woo, who led the nation’s economic development in the 1970s, died of complications from prostate cancer at 89

2013-05-19

Architect of economic development Nam dies

By Kim Rahn

Former Prime Minister Nam Duck-woo, who led the nation’s economic development in the 1970s, died of complications from prostate cancer, Saturday. He was 89

Born in 1924, Nam Obtained a master’s degree in economics at Seoul National University and a doctorate at Oklahoma State University

in 1969 when he was teaching at Sogang University, then President Park Chung-hee picked him as finance minister. Nam maintained the position for five years, leading Korea’s industrial Development called the “miracle of the Han River.”

Between 1974 and 1978, he served as deputy prime minister and minister of economic planning, and as an economic advisor to the Park in 1979.

It is said that the former president selected Nam after reading one of His papers critical of the government’s economic Policies. Under the Chun Doo-hwan Administration, he was prime minister from 1980 to 1982.

Afterwards, he worked as chairman of the Korea International Trade Association (KITA) Between 1983 and 1991, laying the cornerstone for the Development of Korea’s trade by leading the Establishment of trade-Related facilities such as COEX Exhibition Halls and the Korea World Trade Center.

After retiring from the public service, he continued activities as an advisor for economic affairs. In 2007 he was the chief of the economic advisors for President Park Geun-hye, who was one of the presidential contenders for the ruling party at that time. She is the daughter of former President Park Chung-hee.

In March after she became President, Nam was invited to a presidential luncheon where he was seated next to her.

Until recently he served as chief director at the Korea Forum for Progress; head of senior advisors to the Federation of Korean Industries (FKI), and advisor to the Korea Sanhak Foundation and the Citizens United for Better Society

The FKI issued a statement on Sunday to mourn his death. It said Nam was a living witness of Korea’s economic Development.

“He will be remembered as ‘a person in active service Forever,’ who made ​​Efforts to bring democracy and the market economy to the country,” the statement reads

Nam had been Suffering from prostate cancer for years. His condition deteriorated recently and Hospitalized had been since May 6

He is survived by his wife and three children

His funeral will be held in the form of a public funeral, with Kita Chairman Han Duck-soo and former Prime Minister Lee Hong-koo in charge of the funeral ceremony. The memorial altar was set up at Samsung Medical Center in southern Seoul. He will be buried at the Seoul National Cemetery on Wednesday.