Goldman Sachs economist named as chief of presidential committee.

President Moon Jae-in has named senior Goldman Sachs economist Kwon Goo-hoon as head of the Presidential Committee on Northern Economic Cooperation (PCNEC).

In a media briefing at Cheong Wa Dae, the President's chief press secretary Yoon Young-chan said Kwon will retain his post at the U.S.-based investment bank.

The committee, which was established after a direct order from the President, is tasked to draft a roadmap on northern economic cooperation. The top post on the committee has been vacant since Song Young-gil resigned as its previous chief in late July this year so he could bid for the leadership of the Democratic Party of Korea (DPK).

Kwon joined Goldman Sachs in 2007 after earning a doctorate at Harvard University. He previously served as chief economist at the London branch of Netherlands-based ABN AMRO from 1998 to 2001.