To do so, it is immensely useful for them to listen to world leading thinkers from various fields and to share their valuable insights into prospects for the future and the evolving world order. It is equally important for the Korean general public to be attuned to the evolving world order and to the rapid shifts in the global economy. This helps reframe Korean people's way of thinking toward globalization and helps them better understand major implications of these changes.

The Institute for Global Economics (IGE) is a private non-profit organization established in 1993 with two primary objectives: first, to provide forums for Korean and international leaders from academia, government, business and journalism to discuss major global economic issues and their implications for Korea and the Korean people; second, to put out short policy position papers regarding major global issues to help frame government policies and business strategies.

Research activities are primarily carried out by visiting fellows drawn from the Korean academic and research community. Close relationships with both domestic and international universities and research institutes are key to this endeavor. The IGE collaborates on research and co-sponsors seminars and conferences with such institutions.

The IGE works closely with many leading international research institutes. It has been co-hosting the Korea-US 21st Century Council meeting with the Institute for International Economics (IIE) in Washington, DC, since 1994. At this annual council meeting, leading scholars, business leaders and top journalists from both sides meet to discuss bilateral and global economic and security issues. Proceedings of the council meetings have been published for worldwide distribution. The Political Economy of Korea-United Stated Cooperation, the first council meeting proceedings, edited by Il SaKong and C Fred Bergsten, was published in December 1994. The seventh council meeting was held in April 2002 in Washington, DC.

The IGE collaborated with the Brookings Institution in Washington, DC, to co-host the Northeast Asia Forum 2000. It also worked with the University of California, Berkeley, Business Roundtable to organize the seminar, "Is the Korean Semiconductor Industry in a Trap and Can it Get Out?". In 1997, the IGE invited a number of German scholars to discuss the German unification experiences with Korean researchers. Policy Priorities for the Unified Korean Economy is the proceedings of that meeting.

The IGE also utilizes internationally distinguished scholars and policy makers who are invited to serve on the Research Advisory Board. The Board members are frequent speakers at IGE forums. The current Advisory Board, with Paul Volcker as Honorary Director, consists of Nicolas Ardito-Barletta, Jacques Attali, C. Fred Bergsten, Richard N. Cooper, Juergen B. Donges, Rudiger Dornbusch, Martin Feldstein, Gerhard Fels, Jacob A. Frenkel, Toyoo Gyothen, Mahbub ul Haq, Wontack Hong, Shinichi Ichimura, Kenichi Ito, Hisao Kanamori, Lawrence B. Krause, Anne O. Krueger, Jeffrey Sachs, Lawrence H. Summers, and John Williamson.

The IGE is led by Dr. Il SaKong, the chairman and CEO. He served the government of the Republic of Korea as Minister of Finance (1987-88) and Senior Secretary to the President for Economic Affairs (1983-87). During his tenure at these key posts in the Korean government, he played a leading role in framing and implementing the nation's economic development strategy which led to Korea's economic successes. He also served as Special Consultant for the International Monetary Fund (1989-98), and Ambassador for International Trade and Economy for the Korean Government (2000-2002).

Dr. SaKong 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 and it authored For a Better Tomorrow: The Asia-Europe Partnership in the 21st Century (1999). Dr. SaKong also chaired the Emerging Markets Eminent Persons Group (EMEPG) for reforming the international financial architecture. The EMEPG consisted of 11 members, mostly former finance ministers or central bank governors from major emerging market economies in Asia, Latin America and Africa. It published Rebuilding the International Financial Architecture (2001).