The Henry G. Bennett Distinguished Service Award


Dr. Duck-Woo Nam
Former Prime Minister, Korea

Duck-Woo Nam

Dr. Duck-Woo Nam

Dr. Duck-Woo Nam is known as the architect of economic recovery in his native country, the Republic of Korea.

He holds a B.A. in political science from Kookmin University, Seoul, Korea, and an M.S. and Ph.D. in economics from Oklahoma State University.

In 1964, Dr. Nam accepted an appointment as a professor of economics at Sogang University in Seoul. He taught there until 1969 when he became Finance Minister for the Republic of Korea. He was one of the youngest persons ever to hold this position as well as one of the longest-serving Finance Ministers in the history of the country.

In 1974, he was named Deputy Prime Minister and Minister of Economic Planning with responsibilities for overseeing his nation's economic development program.

In 1979, he became Special Assistant to the President and was named Prime Minister in 1980. Following his tenure, he served as a member of the President's Advisory Council on State Affairs.

Dr. Nam is currently president of the Korean Commercial Arbitration Board. His business and civic activities include presiding as chairman of the Korean Trader's Association, the Korean-U.S. Economic Council, the Korea Herald and the Korean Traders Scholarship Foundation.

He has written and published nine books, five in Korean and four in English, on the history of economic thought.

Dr. Nam was the second Ph.D. graduate from the OSU College of Business Administration. In all his studies he has committed himself to understanding U.S. economic principles so these could be applied in his own nation. His knowledge and hard work have resulted in economic prominence for the Republic of Korea and a better way of life for her citizens.

Year of Award: 1987