The position was created on 31 July 1948, two weeks before the government of South Korea was founded, and was held by Lee Beom-seok until 1950.

During the Second Republic a parliamentary system was established and the prime minister became the most powerful position, with the president reduced to a figurehead.

On 23 January 2015, President Park Geun-hye named Saenuri's Floor Leader Lee Wan-koo as the new prime minister.

The most recent prime minister to have served as Acting President is Han Duck-soo, during the suspension of Yoon Suk Yeol due to his impeachment on 14 December 2024.

The prime minister of South Korea sometimes holds some professional or technological knowledge whereas the president is always a sole politician.

And according to Article 65 Clause 1, if the president, prime minister, or other state council members violate the Constitution or other laws of official duty, the National Assembly can impeach them.

It is owned and operated by the South Korean government, and has served as the residence of the prime minister since the early 1990s after construction was concluded and was completed around the same time as the Presidential Blue House.

Prime ministers when they die usually have a state funeral so the public and government officials both past and present can pay their respects.