The National Assembly Budget Office (NABO), led by Chief Chi Dong-ha, held a meeting with the Fiscal Policy Consultation Team from the ASEAN+3 Macroeconomic Research Office (AMRO) on Monday, July 20.

AMRO is an international organization established in Singapore by South Korea, China, Japan, and the 10 ASEAN member states (Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam) to monitor regional macroeconomics and prevent financial crises. The organization conducts annual consultations with its member states to assess fiscal trends and developments.

The meeting was attended by Baek Kyeong-yeop, Director of the Tax Analysis Division II at NABO, and Luke Hong, Fiscal Surveillance Team Leader at AMRO, among other key officials.

During the session, NABO and the AMRO delegation engaged in in-depth discussions on Korea’s major challenges in expanding fiscal revenue, as well as tax gaps, medium- to long-term revenue strategies, recent tax reforms, potential future tax reform plans, and non-tax revenue.

Concluding the meeting, Team Leader Luke Hong expressed his sincere gratitude, stating, “AMRO views NABO as an essential partner. The valuable insights gained from today’s consultation will be highly utilized as crucial data for our upcoming report, scheduled for publication next April.”