Research Excellence, Policy Insight KDI has been a vanguard of research excellence for well over half a century. Reaching objective conclusions through science-based research is not only a source of pride as a world-renowned think tank but also an essential element for the leadership in the social discourse. While KDI’s research is grounded in academic rigor, it places a strong emphasis on delivering timely policy insights and perspectives that foster the betterment of our society. 안녕하십니까? 한국개발연구원(KDI) 원장 김세직입니다. KDI는 지난 반세기 동안 우리 경제가 중대한 선택의 기로에 설 때마다, 단단한 목소리로 정책의 방향을 제시해 온 대한민국 대표 정책 연구기관입니다. 오늘날 우리 경제는 그 어느 때보다 복합적이고 구조적인 도전에 직면해 있습니다. 장기 성장률 하락과 사회 전반의 양극화 심화, 글로벌 기술 경쟁 및 통상 환경의 급변, 인공 지능의 확산 등 우리 경제의 지속 가능성을 시험하는 변화들이 동시에 진행되고 있습니다. 이제 단기적인 대응을 넘어 장기 성장률 추세를 반전시킬 수 있는 ‘진짜성장’으로의 정책 패러다임 전환이 꼭 필요한 시점입니다. KDI는 앞으로도 과학적 분석에 기반한 정책 연구를 통해 변화의 본질을 정확히 진단하고, 불확실한 미래에 선제적으로 대응할 수 있는 실질적인 해법을 제시하는 데 역량을 집중하겠습니다. 국민에게 신뢰받는 정책 싱크탱크로서, KDI의 역할과 사명을 흔들림 없이 이어가겠습니다. 감사합니다. President, Korea Development InstituteKim, Se Jik

Se Jik Kim 18th President, Korea Development Institute Birth January 25, 1960 Education 1986~1992 Ph.D., Economics, University of Chicago, Madison, U.S. 1983~1985 M.A., Economics, Seoul National University, South Korea. 1979~1983 B.A., Economics, Seoul National University, South Korea. Research Interests (Major) Macroeconomics, Economic Growth EMPLOYMENT 2026~Present President, KDI and KDI School of Public Policy and Management 2025~2026 Professor Emeritus, Department of Economics, Seoul National University 2006~2025 Professor, Department of Economics, Seoul National University 1992~2006 Senior Economist, International Monetary Fund (IMF) 2000~2003 Visiting Research Fellow, Korea Institute for International Economic Policy (KIEP) 1985~1986 Staff Member, SsangYong Investment & Securities 2022~2024 Independent Director, Hanwha Life Insurance 2019~2022 Independent Director, Industrial Bank of Korea (IBK) 2016~Present Founding Member, Seoul National University Professors’ Association for Creativity Education 2023~2024 Chair, Education Policy Evidence Research Committee, Ministry of Education, Korea 2013~2014 Member, Financial Development Review Committee, Financial Services Commission, Korea 2009~2010 Member, Public―Private Consultative Council on Reducing Private Education Expenditures, Prime Minister’s Office, Korea JOURNAL PUBLICATIONS · “Exchange Rates and the Working Capital Channel of Trade Fluctuation,” (with Valentina Bruno and Hyun Song Shin), AEA Papers and Proceedings 108, 531-536, 2018. · “Sustaining Production Chains through Financial Linkages,” (with Hyun Song Shin), American Economic Review 102, 402-406, 2012. · “Bailout and Conglomeration,” Journal of Financial Economics 71, 315-347, 2004. · “Macro-Effects of Corporate Restructuring in Japan,” IMF Economic Review 51, 457-493, 2004. · “Growth Gains from Trade and Education,” (with Y. Kim), Journal of International Economics 50, 519-545, 2000. · “Credit Markets with Differences in Abilities: Education, Distribution, and Growth,” (with J. De Gregorio), International Economic Review 41, 579-608, 2000. · “Risks, Privatization and Interenterprise Arrears in Transition Economies,” (with G. Kwon), Economic Systems 23, 225-243, 1999. · “Growth Effect of Taxes in an Endogenous Growth Model: To What Extent Do Taxes Affect Economic Growth?” Journal of Economic Dynamics and Control 23, 125-158, 1998. · “Human Capital Flight: Impact of Migration on Income and Growth,” (with N. Haque), IMF Economic Review 42, 577-607, 1995. · “A Model for Projection of the Number of Doctors in Korea,” Yonsei Medical Journal, 2025. · “Measuring the Length of Supply Chains,” (with Ziho Park), SSRN, 2024. · “Theory of Supply Chains: a Working Capital Approach,” (with Hyun Song Shin), BIS Working Papers, #1070, 2023. · “Development without Banks: Korean Housing Repo Contract,” (with Hyun Song Shin), Working Paper, SNU and BIS, 2024. · “Prestige Seeking in College Application and Major Choice,” (with Yeon-Koo Che, Dong Woo Hahm, Jinwoo Kim and Olivier Tercieux), SSRN, 2022. · “The Nature of Jeonse and the Scale of Household Debt,” (with Jeheon Ko), 경제논집, 2024. (in Korean) · “Korean Jeonse Financing and Household Debts,” (with Jeheon Ko), 경제논집, 2018. (in Korean) · “The Fall of Growth and Structural Reform in Korea,” 경제논집, 2016. (in Korean) · “Parental Wealth, Children’s Ability and Entering Prestigious Colleges,” (with Keunkwan Ryu and Suk Joon Son), 경제논집, 2015. (in Korean) · “Economic Growth and Fair Competition in Education,” 경제논집, 2014. (in Korean) · “Creative Human Capital as a Future Growth Engine and Educational Reform,” (with Un-Chan Chung), 경제논집, 2007. (in Korean) BOOKS · Awaking, JoongAng Books, 2024. (in Korean) · Imitation and Creation, Dasan Books, 2021. (in Korean) · Korean Crisis and Recovery, Editor (with D. Coe), IMF and KIEP, 2002. · Creative Revolution, (with Nong-moon Hwang et al.), KOREA.COM, 2016. (in Korean) · The Need to Foster Creative Human Capital as a Growth Engine, (with Keunkwan Ryu et al.), Collaborative Research Series, 2011. (in Korean) HONOR · Order of Civil Merit (Okjo Medal), Government of the Republic of Korea, 2022. AWARDS · Distinguished Service Award, College of Social Sciences, Seoul National University, 2025. · Pew Teaching Fellow, University of Chicago, 1988. · Century Scholarship, University of Chicago, 1986. · Grand Prize Winner, MBC Scholarship Quiz Competition (MBC Television), 1977.

Vision A Global Think Tank Charting the Course for National Policy and Building a Brighter Economic and Social Future. Mission Building National Economic Policy and Development through In-Depth Analysis of Domestic and Global Economic and Social Trends. Management goals Proposing a Well-reasoned Policy Approach Driving National Policy Development and Studying Pressing Issues Promoting Organizational Innovation through a Dynamic and Research-Oriented Culture Goal 1 Proposing a Well-reasoned Policy Approach Elevating the Institute's standing through rigorous research and policy recommendations based on scientifically-sound analysis Initiating proactive discussions on key policy issues Goal 2 Driving National Policy Development and Studying Pressing Issues Providing robust support for national policy formation Systematically conducting policy research to address pressing challenges Goal 3 Promoting Organizational Innovation through a Dynamic and Research-Oriented Culture Fostering a performance-driven organizational structure that supports flexibility Attracting and retaining talents to create a flexible, research-friendly environment

PIMAC Brochure PIMAC 2024 Summary Evaluation of Government-Financed Projects 1 The PIMAC conducts preliminary feasibility studies (PFS) on large public investment projects, reassessment of feasibility studies for total project cost management, and contributes to improving the efficiency and soundness of fiscal management through ex ante and ex post feasibility studies on large public investment projects. Evaluation and Management of PPP Projects 2 In order to implement PPP projects more effectively, the PIMAC provides not only direct services such as feasibility analysis and Value for Money (VfM) tests, proposal evaluation, review of refinancing, negotiation support and review of dispute resolution, but also policy services with the competent authority and private sector such as internal and external education programs, detailed guidelines and policy development studies on PPPs. Evaluation of Public Institution Investment Projects 3 The PIMAC was designated as a specialized institution that conducts PFS on a certain scale of investment of public institutions, and also, by conducting objective evaluation of feasibility of public institution investment projects and then allowing access to its results for references before deciding on a new public institution investment, it has contributed to increasing project efficiency and securing financial soundness of public institutions. Tax Expenditure Evaluation 4 Starting in 2015, PIMAC has conducted PFS and in-depth evaluation on projects subject to tax reduction. Tax Expenditure Evaluation is divided into ex ante management through Preliminary Feasibility Study for Special Taxation and ex post management through In-depth Evaluation of Special Taxation.

KIM, Kiwan Executive Director, Public and Private Infrastructure Investment Management Center

Research on International Development 1 CID is supporting the establishment of Korea’s strategy for development cooperation through the analysis of the global development trends and related policies. To improve the quality and the effectiveness of Korea’s development cooperation activities, CID is concentrating on sharing regional and sectoral development insights from in-depth research. Knowledge Sharing Program · Economic Innovation Partnership Program 2 CID has been leading a knowledge-based cooperation program, known as KSP(Knowledge Sharing Program) and EIPP(Economic Innovation Partnership Program), in partnership with the Ministry of Economy and Finance. With tremendous experience in policy research and expertise in knowledge-based cooperation projects, CID has successfully conducted projects with local experts to address partner countries’ policy agendas. Global Partnership 3 CID is building partnerships with multilateral development banks, international organizations, governments, and other institutions to carry out joint projects and enhance the impact of its development cooperation activities. Conference / Seminar 4 CID provides numerous opportunities to expand the global knowledge network by hosting international conferences and forums for experts, international development players and practitioners which yield outcomes to support key sectors in the global development agenda. Research Papers on International Development KSP Reports Modularization of Korea’s Development Experience Press Release

KIM, Jungwook Executive Director, Center for International Development

Regulatory Studies 1 The Center develops regulatory cost analysis methodologies and guidelines to support the proper implementation of the regulatory cost management system. In addition, research is conducted on rational regulatory reform and exemplary foreign cases as well as in-depth analyses on relevant systems that could promote substantial regulatory reform. Regulatory Impact Analysis 2 The Center reviews the propriety of respective cost-benefit analysis results drafted and submitted by various ministries and calls for the necessary revisions in order enhance the effectiveness of the regulatory impact analysis system and contribution to the improvement of regulation quality. Regulatory Cost Management System 3 The Center reviews the propriety of cost-benefit analyses and verifies the regulatory costs presented by various ministry. The verification results are then reflected in the analyses and regulatory costs are reanalyzed. Consulting and Education 4 The Center provides competent ministries with educational and training programs and consultation on cost benefit analysis to strengthen the capacity of regulatory impact analyses and the effectiveness of regulatory reform systems.