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Title:
Korea's Economic Policy Co-ordination Committee
Keywords: Framework for coordination, government, ministries
Location: Republic of Korea
Time Frame: 1998 ongoing
Relevant items: - Framework for coordination
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Problem overview:

     Framework for coordination: The Economic Policy Coordination Committee (EPCC) is the highest decision-making organization that coordinates with ministries related to economic policies including environmental sectors.

Background in summary:

     Establishment of the Korea Economic Policy Coordination Committee (EPCC): The Korean government established the EPCC in 1998 under the presidential decree with the main purpose to coordinate and resolve conflict of interests arising from differences in environment and development policies among ministries.

     Members and Missions of the EPCC: The EPCC is chaired by the Minister of Finance and Economy and the committee comprises of all the ministers of the economic sector. At the working level, a subcommittee consisting of directors from the same ministries prepares and coordinates the agenda to be submitted to the EPCC and controls detailed programs decided or delegated by the EPCC.

     The major role of the EPCC in environmental policies: is to coordinate and resolve the conflict between the MOE and other ministries in formulating and implementing economic policies. In addition, the EPCC plays a great role in integrating environmental consideration into economic policy making. By participating in the EPCC, the MOE can influence on overall economic policy, for key factors in economic policies are decided in the EPCC.

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Peer Review Committee

Good practice rating:

(1 for the best, 5 for the lowest score)

Sustainability Efficiency
3 Improvement in either the environment of economic condition with no harm to the other. - Cost efficient.
2 Sustainable over time (not one-off) Process
Adaptability - Participation of the community
3 Location adaptability (can the project be done in other places?) - Participation of resource owners/users
3 Socio-cultural adaptability. - Partnerships between various actors (Governments, NGO, Academia, Private)
3 Level of development adaptability. 1 Degree of coordination and cooperation between government departments.
2 Style of government adaptability. 2 Ability to attract political interest/support
2 Degree of decentralization adaptability. 2 Procedures for feedback and review.

Comments on this example:

     Improvement in either the environment or economic condition with no harm to the other: In spite of many out-puts of the EPCC in environmental sectors, it has been the often the case that environmental conservation is given less importance when compared to the overall economic development of the country, and it was partially resulted from the economic crises in 1997. After the economic crises, it is inevitable to put the focus of policy on economic recovery. As a result, the importance of environmental consideration has been reduced during the recent days.

Sustainability of the project:
 
Adaptability of the project to other situations:
 
Process of decision making and implementation:

     Framework for coordination: When conflict arises between ministries, the ministries can request for cooperation from the EPCC, through the Ministry of Finance & Economy (MOFE), the key body looking over economic policy and coordination, to help resolve the conflicts. The MOFE formulates an agenda including alternatives for coordination, and the EPCC will make decisions based on that agenda. EPCC has the power to decide on project implementation, in which each line ministry must follow. Line ministries will also have to report back to the EPCC, which helps bring in feedback allowing the EPCC to be able to monitor and enforce the implementation.

Cost efficiency:
 


Documentation:

Literature or other written project review references

Source of Information:

 

Contacts:

 

Submitted by:

Seong-Wook Kim
Economic Policy Bureau
Minister of Finance and Economy
Republic of Korea


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