Corea returned to Ceylon briefly to work as a Research Officer at the Central Bank of Ceylon before leaving for Oxford to do his DPhil. He returned in 1952 to work as an economist and later the Director of Planning Secretariat of the Government of Ceylon in 1952 till 1960 at the same time functioning as the Secretary, National Planning Council.
From 1960 to 1964 he was the Director of Economic Research at the Central Bank and in 1965 was appointed the Permanent Secretary of the Ministry of Planning and Economic Affairs of the Government of Ceylon.
In 1970 he was transferred to the Central Bank as its Deputy Governor and later its Senior Deputy Governor till 1973 when he took up appointment as Ceylon's Ambassador to the European Economic Community, Belgium, Luxembourg and the Netherlands.
UN
He was a Member (1965–1972) and chairman (1972–1974) of United Nations Committee on Development Planning; chairman, ILO Meeting on Evaluation of Comprehensive Employment Missions to Colombia, Kenya, Iran and Sri Lanka, (1973); Chief, United Nations Planning Mission to British Honduras, (1962); Special Representative of the Secretary General of the UN Conference on Human Environment, ( 1971–1972); Secretary-General of the United Nations Conference on the Least Developed Countries, Paris, (1981); Member, UN Panel of Eminent Persons on South Africa and Transnational Corporations, (September 1985); Member, UN panel of Eminent Persons on "The Relationship between Disarmament and Development", (April 1986); Team Leader, UNDP High Level Multi-Disciplinary Mission to Qatar, (13–26 April 1987);
Chairman: United Nations General Assembly: Ad Hoc Committee of the Whole on an International Development Strategy for the Fourth Development Decade, (1989–90);
UNCTAD secretary-general
Corea assumed post of Secretary-General of the United Nations Conference on Trade and Development on 5 April 1974 after he was appointed in 1973 for an initial term of three years by former United Nations Secretary-GeneralKurt Waldheim. He was thereafter re-appointed three times, his fourth term covering the period December 1982 until the end of 1984. As Secretary-General of UNCTAD and until the end of February 1985, Dr. Corea also held the position of Under-Secretary-General of the United Nations.
Later work
Following his departure from the UN he founded the Sri Lanka Economics Association; was the Chairman of the South Centre Working Groups on Environment and Development and a board member of the South Centre.