Since the independence of the Republic of Korea, the economy has been one of the main constitutional topics. The Constitution of 1948, as the first Constitution of the Republic of Korea, was deeply oriented to the socialism in economic system. the economic order of the Republic of Korea had been based on a purpose for the balanced growth of the national economy and the realization of socialism by which the basic need of the people could be satisfied. And, the basic enterprises had to be under public management. An important change of direction resulted from the constitutional revision in 1962. A respect for the freedom and creative initiative of enterprises and individuals was accentuated in economic affairs. But, constitutional revisions on the economic order in 1972 and 1980 were made for the purpose of supporting the economic development led by the government. The Constitution of 1987 is the current constitution of Korea. In principe, the economic order of the Republic of Korea is based on a respect for the freedom and creative initiative of enterprises and individuals in economic affairs. But, the State may regulate and coordinate economic affairs in order to maintain the balanced growth and stability of the national economy, to ensure proper distribution of income, to prevent the domination of the market and the abuse of economic power, and to democratize the economy through harmony among the economic agents. Especially, the State may impose, as under the conditions prescribed by law, restrictions or obligations necessary for the efficient and balanced utilization, development, and preservation of the land of the nation that is the basis for the productive activities and daily lives of all citizens. As the right to property of all citizens is guaranteed, a couple of regulations in this field has been under the control of constitutionality by the Constitutional Court. In the future, the revision of economic order clauses may be discussed in relation with the unification of two Koreas and the environment.

Since the independence of the Republic of Korea, the economy has been one of the main constitutional topics. The Constitution of 1948, as the first Constitution of the Republic of Korea, was deeply oriented to the socialism in economic system. the economic order of the Republic of Korea had been based on a purpose for the balanced growth of the national economy and the realization of socialism by which the basic need of the people could be satisfied. And, the basic enterprises had to be under public management. An important change of direction resulted from the constitutional revision in 1962. A respect for the freedom and creative initiative of enterprises and individuals was accentuated in economic affairs. But, constitutional revisions on the economic order in 1972 and 1980 were made for the purpose of supporting the economic development led by the government. The Constitution of 1987 is the current constitution of Korea. In principe, the economic order of the Republic of Korea is based on a respect for the freedom and creative initiative of enterprises and individuals in economic affairs. But, the State may regulate and coordinate economic affairs in order to maintain the balanced growth and stability of the national economy, to ensure proper distribution of income, to prevent the domination of the market and the abuse of economic power, and to democratize the economy through harmony among the economic agents. Especially, the State may impose, as under the conditions prescribed by law, restrictions or obligations necessary for the efficient and balanced utilization, development, and preservation of the land of the nation that is the basis for the productive activities and daily lives of all citizens. As the right to property of all citizens is guaranteed, a couple of regulations in this field has been under the control of constitutionality by the Constitutional Court. In the future, the revision of economic order clauses may be discussed in relation with the unification of two Koreas and the environment.