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 ...

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.

The first Academic Journal Editorial Board Meeting of the Journal of Budget and Policy published by the National Assembly Budget Office was held in the conference room of National Assembly Annex Building at 11 am on Wednesday, January 29.

The meeting was moderated by chairman Ha Yeon-seob, and various issues were discussed to improve accessibility to academic journals and the operational process. As more manuscripts are being submitted, publications are now made from 2 times to 4 times a year, and the qualification standards of the author is lowered to Master's degree and above, allowing more researchers to participate.

In addition, NABO will continue to operate and manage the Journal of Budget and Policy for it to be widely used as a venue for high-level contests and exchanges among researchers of budget and fiscal policy.

The Journal of Budget and Policy is an academic journal published by the National Assembly Budget Office, which discovers and publishes theoretical and policy papers related to budget, settlement, fund, economic analysis and tax policy, and evaluation of major fiscal projects. The journal has been registered at the National Research Foundation of Korea in October 2018.