He served Office of the President as Special Economic Advisor to the President from 2008 to 2009. He also served the Presidential Council on National Competitiveness from March 2008 to January 2009. This council is considered to be the flagship of the Lee Myung-bak government.

Dr. SaKong previously served in the government of the Republic of Korea as Minister of Finance (1987-88), Senior Secretary to the President for Economic Affairs (1983-87), Senior Counselor to the Minister of Economic Planning Board (1982) and Senior Economist of the Council on Economic & Scientific Affairs for the President (1979-80). During his tenure at these key posts in the Korean government, Dr. SaKong played the leading role in framing and implementing Korea's most successful development strategy and economic policies of the 1980s.

He also served the Korean government in various other capacities. He was Ambassador for International Economy and Trade (2000-02), Member of the Council of National Economic Affairs for the President (2001-02), and Senior Member of the Council of National Economic Affairs for the President (2003-04).

Dr. SaKong established the Institute for Global Economics (IGE), a private non-profit research institute based in Seoul, in 1993. Since September 2003, Dr. SaKong has also held Korea University’s Distinguished Professorship, for which he occasionally delivers special lectures.

After earning his doctorate degree from UCLA, he taught economics at New York University (1969-73) in the U.S. and Sheffield University (1971-72) in the U.K. and did economic policy research in Korea. Dr. SaKong was Senior Fellow, Research Director, and Vice-President at the Korea Development Institute (KDI), the leading national economic think-tank for the Korean government (1973-1982). Dr. SaKong also served as President of the Korea Institute for Industrial Economics and Trade (KIET), another national think-tank (1983).

Dr. SaKong has a wide range of experience in international affairs. He was Special Consultant to the International Monetary Fund (1989-98). He chaired the ASEM Vision Group, established at the 1998 ASEM Summit in London. The Vision Group consisted of 26 representatives from ASEM member countries and the European Commission. It authored, For a Better Tomorrow: The Asia-Europe Partnership in the 21st Century (1999). He also chaired the Emerging Markets Eminent Persons Group (EMEPG) for reforming international financial architecture. The EMEPG consisted of 11 members, mostly former finance ministers and central bank governors from major emerging market economies in Asia, Latin America and Africa. It published Rebuilding the International Financial Architecture in 2001. In addition, he was a member of the Private Independent Experts for APEC, the Korea-U.S. Wisemen Council, the ASEM Task Force for Closer Economic Partnership Between Asia and Europe, and co-host of the Korea-U.S. 21st Century Council. Currently, Dr. SaKong is a member of the Board of Governors of the East-West Center after serving the center as a member of the International Advisory Panel.

Dr. SaKong graduated from Seoul National University (1964) and received his MBA (1966) and Ph.D. (1969) from the University of California at Los Angeles.

Dr. SaKong has written and edited many books and numerous articles in professional journals dealing with the Korean economy, major issues in economic growth and development, and international finance and trade policy issues. They include: Government, Business, and Entrepreneurship in Economic Development: The Korean Case, Harvard University, 1980 (co-authored); Korea in the World Economy, Institute for International Economics in Washington, D.C., 1993; The Korea-United States Economic Relationship, Institute for International Economics in Washington, D.C., 1997 (co-edited); and The World Doesn't Wait for Us, Maeil Business Newspaper, 2001.

Dr. SaKong has received various honors and prizes, including the Korean government's Order of Civil Service Merit "Blue Stripes" (1990), the Republic of China's Order of the Brilliant Star with Grand Cordon (1987), the Kingdom of Belgium's Order of the Crown (1986), the Korean government's Order of Civil Merit “Moran Medal” (1983), Korea University's Grand Prize for Distinguished Policy Makers (2002), the Outstanding Achievement Award for 2008, AMCHAM Korea (2009), and the Korean Association of Translators & Interpreters’ Speaker of the Year (2009), UCLA Chancellor’s Award for Renowned Scholarship and Outstanding Achievement in Public Service (2010), the Most Distinguished Alumni Awards from the UCLA Alumni Association of Korea (2010), the Most Distinguished Alumni Award from the College of Commerce of Seoul National University (2011), and the Most Distinguished Alumni Award from Kyungbuk High School (2011).