Krag, Jens Otto (yĕns ôˈtō kräkh) [key], 1914–78, Danish political leader. A Social Democrat, he entered parliament in 1947 and played a leading role in shaping Denmark's postwar economic policies. He served as minister of commerce, industry, and shipping (1947–50), minister of economy and labor (1953–57), and minister of external economic affairs (1957–58). Minister of foreign affairs (1958–62,1966–67), he was twice prime minister (1962–68, 1971–72). In 1972 his goal of European Community membership for Denmark was realized when his government won a resounding victory in a referendum on the issue; one day later Krag resigned the premiership for personal reasons.