Welcome to the National Assembly Budget Office’s Web Site.
As the organization of the Korean National Assembly specializing in national finance, the National Assembly Budget Office (NABO) supports the National Assembly through research and analysis of national finance to efficiently and steadfastly fulfill its financial and legislative rights as specified in the Constitution.
The NABO, established in October 2003, has contributed to the successful legislative activity of members of the National Assembly with budget settlements analyses; cost estimates on tax revenues and expenses; evaluation of economic and fiscal forecasts and major national programs. NABO’s achievements to date have led to the accumulation of related expertise and an expansion of its responsibilities, making it one of the most recognized financial institutions in the nation.
The NABO is committed to ultimately serving the public and its members by providing financial reports to the National Assembly based on professionalism, objectivity, impartiality, and timeliness. Our staff at the NABO is honored to partake in the endeavor of preparing for the future through its extraordinary mission, with the firm belief that the 20th National Assembly is working for its citizens and strengthening constitutional principles.
Finding a balance between public expectations and maintaining fiscal sustainability is a challenge we need to overcome to ensure national growth for both our generation and the next. In addition, the increased fiscal risk due to unprecedented low economic growth and birth rate along with the increasingly aging society demands enhanced responsibilities of the NABO.
In order to meet the demands of the nation, the NABO will remain dedicated to supporting the financial responsibility of the National Assembly through insightful budget analysis, reliable assessment of costs on bills, and long-term financial forecasts. We will further concentrate our effort and talent toward this goal in order to bear tangible results. We look forward to your continued support and encouragement.