By Cho Jin-seo
Staff Reporter
Veteran economic policymakers will be dispatched to emerging countries in Southeast and Central Asia as advisors.
The Ministry of Strategy and Finance said Sunday it will appoint three project managers to work as advisors to the governments of Cambodia, Uzbekistan and Indonesia over the next three years.
The candidates include influential figures such as Kwon O-kyu, former deputy prime minister; Hyun Jung-taik, former president of the Korea Development Institute; and Kang Moon-soo, former member of the central bank's policy-making Monetary Policy Committee.
The Knowledge Sharing Program (KSP) is to help other countries develop their economic potential using Korea's experience of rapid economic growth over the past five decades.
At the same time, the plan will effectively boost the morale of citizens and officials in Korea.
"It is a well-known story that decades ago, South Korea had sought advice from mid-level managers from the Philippines in implementing policies," said an official at the Financial Services Commission (FSC). "Now, Korea can help others this way."
The KSP was launched in 2004, and its budget was increased three fold between 2007 and 2010.
The program has allowed government officials, academics and other economic experts from Korea and other countries to share their experience and development strategies.
This year, the ministry designated Cambodia, Uzbekistan, Indonesia and Vietnam as "core" KSP beneficiaries.
While the first three nations will have to wait and see who they will get, Nam Sang-woo, former vice president of Korea Development Institute, has already been named as a consultant for the Vietnamese government.
Koh Young-kwon, director of the Ministry of Strategy and Finance, was dispatched to Ulan Bator, to serve as an adviser to the country's finance minister.
Koh is likely to be partnered with Lee Byung-rae, a director of the FSC. Lee is expected to become an adviser to Mongolia's central bank governor as early as next month, further strengthening South Korea's human network within the central Asian country.
The budget for the KSP has been increased every year, even during the financial crisis - from 15 billion won in 2007, the final year of the Roh Moo-hyun administration, to 75 billion won for 2010 under President Lee Myung-bak.
The program is unique in that the recipient countries can learn from the personal experience of Korean decision makers, who led the unprecedented rapid economic growth here.
The expansion of the program is set to work in tandem with President Lee's visit to foreign countries.
"We will include more nations in the KSP program and provide consulting services. It will be focused on countries where the president makes official visits," the ministry said.
"We evaluate that the KSP has made great contributions to fostering friendships with participating countries and creating a 'Korean wave."'
Lee has visited seven out of the 15 countries participating in the program in the past two years. The number of core countries will be enlarged to 10 by 2012.