Dr.Nam received his Ph.D in Economics from Oklahoma State University He also did postdoctoral work at Stanford University in 1967-68. He taught Economics in Sogang University in Seoul before he was named Finance Minister in 1969.Subsequently his government service lasted more than 13 years in various capacities as deputy prime minister and minister of economic economic planning, special assistant to the President and a member of the President's Advisory Council on State Affairs, during the Park Chung Hee administration. The summit of his government career was reached in September 1980 with
his appointment as Prime Minister of the Republic of Korea, He held this office
until 1982.
Following his retirement from the government, Dr.Nam has been actively engaged in various domestic and international organizations, including PECC and the East-West Center in Honolulu. Dr. Nam is a former Chairman of the Korea International Trade Association and presently serves as Chairman of the Korea Sanhak Academic Foundation, Chairman of the Korean Committee for the Northeast Asia Economic Forum, and a member of the Board of Diectors, Northeast Asia Economic Forum based in Honolulu, Hawaii, USA