The National Assembly Budget Office held a meeting with a mission team from the Organization for Economic Cooperation and Development (OECD) to deliberate on South Korea’s fiscal policy and the challenges posed by demographic changes on Tuesday, March 26.

The meeting was marked by the presence of four OECD delegates, including Vincent Koen, Country Studies Division Chief, and Jon Pareliussen, Head of the Korea/Sweden Desk. Representing NABO were Cheol-min Choi, Head of the Budget Analysis Coordination Division; Young-il Choi, Head of the Macro-Economic Analysis Division; and Jae-yeon Byun, Head of the Economic Industrial Program Evaluation Division. They contributed insights on various fiscal and economic topics, such as the implementation of fiscal rules, the fiscal policy framework, and low fertility budgets.

The OECD mission team expressed their appreciation for gaining a deeper understanding of NABO’s perspective on these crucial issues. They further noted the importance of NABO’s role as an independent fiscal body in overseeing adherence to fiscal rules in the future.