The Ministry of Foreign Affairs was inaugurated according to the Government Organization Act enacted by the Government of the Republic of Korea on July 17, 1948, to be in charge of diplomacy, external economic policy, overseas Korean nationals, international situation analysis and overseas promotional affairs. The Ministry of Foreign Affairs establishes and carries out foreign policies, economic diplomacy and economic cooperation, takes part in international economic communities, administers treaties and international agreements, protects and supports overseas Korean nationals, promotes cultural cooperation, and analyzes international affairs. The Ministry of Foreign Affairs has continuously introduced complementary measures for effective diplomacy such as readjustment of manpower and budget befitting the changes in the diplomatic environment and the pursuit of substantial diplomacy to maximize the national interest of the ROK in the midst of a highly competitive international environment.