• News & Events

    NABO reports its plans to the Speaker of the National Assembly

    The National Assembly Budget Office reported its plans to the Speaker of the National Assembly in the reception room at 11am on Friday July 31, 2020. Lee Jong-hoo, the Chief of the National Assembly Budget Office announced the mission of NABO, which is to support fiscal deliberation activities such as budget and settlement deliberation and the inspection of state administration by providing professional analysis. He also presented NABO’s vision which is to become the best fiscal institution that serves the National Assembly and the people. To accomplish the mission and the vision, he proposed NABO’s business goals which is to support “National Assembly that works for the people”, “National Assembly that opens up the future”, and “National Assembly with the people”. Park Byeong-seug, the Speaker of the National Assembly expressed his aspiration that the agencies and departments of the National Assembly should become “One Team” centered on the Secretary General through active communication.
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  • News & Events

    NABO holds Joint Academic Conference in celebration of the opening of the 21st National Assembly

    The National Assembly Budget Office held the Fiscal-Economy Joint Academic Conference in celebration for the opening of the 21st National Assembly under the theme of “Diagnosing Korean economy and the direction of fiscal policy” on Thursday July 16th, 2020, at the Member’s Office Conference Hall.

    It is the first academic conference NABO held jointly with the Korean Economic Association, the Korean Academic Society of Taxation, the Korean Association of Public Finance, the Korean Association for Policy Studies, and the Korean Association for Public Administration. The conference aims to serve as a venue to seek ways to restore economic vitality and come up with policies that increase financial efficiency and sustainability.

    The conference began with the words of encouragement by Park Byeong-seug, Speaker of the National Assembly, welcoming remarks by Lee In-ho, president of the Korean Economic Association, and opening remarks by Lee Jong-hoo, Chief of NABO.

    In his words of encouragement, Speaker Park Byeong-seug pointed out that “the recent global economy has a lot of difficulties such as the continuous decline in potential growth rate and the economic downturn caused by COVID-19 pandemic”. He also added, “I look forward to this conference becoming a compass in the era of uncertainty.”
    Following the opening ceremony, three sessions were conducted in sequence: “Restructuring and Response Strategy of the Korean Economy”, “Direction of Administrative and Fiscal Reform” and “Direction of Fiscal and Tax Policy”. In each session, the panels actively debated on the issues that need to be discussed in the newly launched National Assembly: Korean economy's structural changes and sustainable growth strategies, fiscal expenditures and restructuring plans of public institutions, the direction of fiscal policy to overcome the COVID-19 crisis, fiscal projections for the 4 major public pensions, and tax reforms in 4th Industrial Revolution and the economic transition ...
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  • News & Events

    NABO introduces the organization in the Orientation for First-Term Members

    The National Assembly Budget Office introduced the organization in the Orientation for First-Term Members of the 21st National Assembly held in the auditorium of the National Assembly Memorial Hall on Wednesday May 20, 2020.

    Lee Jonghoo, Chief of NABO announced that NABO will actively support the legislative activities of the 21st National Assembly with the vision of being the best fiscal institution that supports efficient and sustainable finance. To this end, he announced that the direction of NABO is to support the budget and settlement deliberation with expertise, provide prompt and accurate cost estimation and forecast, and economic issues analysis, and offer user-centered legislative activity support on a regular basis. NABO aims to maintain its status as the best fiscal institution in Korea based on expertise, neutrality, and objectivity in the 21st Assembly, and will do its best to support efficient and productive legislative activities.

    Meanwhile, the Orientation for First-Term Members of the 21st National Assembly was held to support legislative activities of 151 first-term members of the 21st National Assembly by providing information on the organization, functions, and legislative support services.

    The event consisted of welcoming remarks and special lectures by Speaker Moon Heesang, the introduction of support organizations of the National Assembly, visits to the Main Chamber, guidance on the legislative activities and support system.
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  • News & Events

    NABO holds the First Budget Policy Advisory Committee Meeting of 2020

    The National Assembly Budget Office (Chief, Lee Jong-hoo) held the First Budget Policy Advisory Committee Meeting of 2020 at 10 am on Friday, February 21.
    This advisory committee was held to discuss the role of the NABO in preparation for the opening of the National Assembly and the advisory agenda selected by each department.
    The budget policy advisors, composed of experts in various fields such as the economy, tax and environment, gave concrete opinions on the direction of the NABO.
    In particular, the head of Committee Kim Seok-Dong emphasized that it is important to consider fiscal policy effectiveness and fiscal soundness at the same time, as demand for fiscal policy increases rapidly when the economy faces structural difficulties such as increased household debt, low birth rate and aging.

    He evaluated that NABO should act as a fiscal institution in the National Assembly by actively responding to these problems and playing a leading role
    After completing the advisory committee, the Chief of NABO Lee Jong-hoo, thanked the participants for raising many important opinions on the level of development of the institution. He added that he would take every word from the advisory committee into mind and devote himself to work harder.
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  • News & Events

    NABO reports it’s new year plans to the Speaker of the National Assembly

    The National Assembly Budget Office reported it’s new year plans to the Speaker of the National Assembly in the conference room at 10am on Friday, January 31, 2020.
    In the era of low-growth New Normal, the Chief of NABO, Lee Jong-hoo, announced the vision that the NABO aims to be “the best professional fiscal institution that supports efficient and sustainable budget.” To this end, with the principle of professionalism, neutrality, and objectivity as the principle of performance, NABO presented the “NABO of Ability (NABO), NABO for Better Future (NABO), and NABO for Change” (NABO for Change).
    He expressed NABO’s ambition to do the best in supporting the legislative activities with the attitude of being faithful to ABC, in other words the basics.
    Moon Hee-sang, the Speaker of the National Assembly, highly praised the National Assembly Budget Office's new year plan and vision, and expressed his aspiration that, "NABO continues to work hard to gain the trust of the people."
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