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NABO in the Press

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S. Korea sovereign debt to top $920 bn by 2060
MK news - November 5, 2014
The National Assembly Budget Office (NABO) Tuesday revealed this in the ‘Long-term budget prospect from 2014 to 2060.’ The office said that Korea’s government debt would reach 514 trillion won in 2014, 1,949 trillion won in 2030, 4,286 trillion won in 2040 and 8,347 trillion won in 2050, marking 14,612 trillion won in 2060. The national debt to GDP ratio would surge four times from this year’s 37.0 percent to 168.9 percent.
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Korea's national debt to reach US$13.5 trillion by 2060: National Assembl...
ArirangTV - November 5, 2014
According to a report by the National Assembly Budget Office, the national debt would amount to 13-and-a-half trillion U.S. dollars by 2060 if there are no additional tax rate increases.
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‘Choinomics’ faces opposition from National Assembly
MK News - October 30, 2014
The opposition came because easing taxes on dividend income would mostly benefit conglomerates and institutional investors, and would not help stimulate consumption. Furthermore, the National Assembly said tax on excess corporate cash reserves imposes tax mainly on companies with smaller assets and thus can cause reverse discrimination, and demanded to redesign tax credits for wage growth. As the National Assembly Budget Office (NABO) formally criticized the three major tax codes for next year, eyes are on whether the Ministry of Strategy and Finance’s three major tax codes will be approved at the National Assembly and take effect from next year.
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Pork-barrel squandering
The Korea Herald - October 29, 2014

There are more cases. Statistics at the National Assembly Budget Office show that a total of 23 infrastructure projects were launched between 2003 and 2013 although they failed to pass the preliminary feasibility study.
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Tax revenue shortfall to top W10tr this year
The Korea Herald - October 27, 2014
The government is seeking to reduce expenditure as its tax revenue shortfall is expected to surpass 10 trillion won ($95 billion) this year, according to a report published by the National Assembly Budget Office last week.
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