NABO held Press Conference The National Assembly Budget Office held a press conference on Thursday, May 22nd regarding issues in fiscal, tax, and economic sectors.The event was held online and offline at the same time, with a number of reporters participating from Maeil Business Newspaper, KBS, Money Today Broadcasting, Kyunghyang Shinmun, and others.The conference proceeded with explanations by NABO Directors on the main contents and current issues of NABO reports—"Public Finance of the Republic of Korea 2025," "Tax System of the Republic of Korea 2025," and "NABO Economic Trends & Issues (published May 21)"—followed by questions and answers from reporters. NABO and the reporters engaged in in-depth discussions on major fiscal and economic issues including the government's consecutive tax revenue shortfalls and the ratio of national tax allocation to local education subsidies.In conclusion, Seung-hwan Chong, Assistant Chief for Planning and Management of NABO, stated that today's press conference served as an important opportunity to communicate with reporters interested in NABO, and showed determination to frequently organize events for active communication with reporters in the future. 2025-05-22

Meeting with Parliament Secretariat of Kyrgyzstan The National Assembly Budget Office (NABO) held a meeting with a delegation from the Parliament Secretariat of Kyrgyzstan on Monday, April 28.The meeting was attended by a 15-member delegation from Kyrgyzstan, including Chief of Staff ALYMBAEV Alaibek, along with NABO Chief Dongha Chi and Assistant Chief for Planning and Management Seunghwan Chong.The Kyrgyz delegation and NABO engaged in in-depth discussions on topics such as strengthening budget analysis and program evaluation methods, ways to link fiscal outlook with legislative bills, introducing financial analysis using artificial intelligence (AI), and improving public transparency in budget matters.Chief of Staff ALYMBAEV Alaibek stated that this meeting served as an opportunity to learn from NABO's advanced practices and work experiences, and expressed hope for continued exchanges with NABO in the future, including academic information exchange, collaborative research, and development of educational programs. 2025-04-28

NABO Experts Meeting The National Assembly Budget Office (NABO) held an experts meeting on Wednesday, April 23 with professors from the Korean Association for Public Administration, the Korean Political Science Association, the Korean Academic Society of Business Administration, and other experts.The meeting was attended by six professors, including Professor Deokro Lee from the Department of Public Administration at Sejong University, along with NABO Chief Dongha Chi and six other NABO officials. The participants engaged in in-depth discussions on topics such as the impact of the Trump 2.0 administration's trade policies on South Korea and political polarization in Korea along with improvement measures.Chief Chi stated, "At this important time when responding to the Trump administration's tariff policies is crucial, we will further strengthen NABO's expertise and legislative support capabilities based on the valuable insights from experts in various fields." 2025-04-23

Press Conference on 2025 NABO Economic Outlook The National Assembly Budget Office held its inaugural press conference on the "2025 NABO Economic Outlook" report on Monday, March 31, at the National Assembly Press Room.Led by NABO Chief Dongha Chi, the event featured aneconomic outlook briefing by Assistant Chief for Economic Analysis Ick Jin. The presentation delivered key forecasts for South Korea's 2025 economic indicators across expenditure, production, income, and growth sectors.In his opening remarks, Chief Chi emphasized NABO's evolving communication strategy: "While our public relations efforts have traditionally centered on press releases and academic forums, we are now expanding direct media engagement through detailed report briefings. Today marks an important step toward strengthening our dialogue with the press.“Assistant Chief Jin then presented NABO's revised economic projections, citing multiple challenges facing the Korean economy: "We have adjusted our 2025 forecasts downward, with economic growth now projected at 1.5% and potential growth at 1.9%*, reflecting impacts from slowing government spending, political uncertainties, weakened consumer demand, U.S. trade policies, and demographic decline. These conditions necessitate bipartisan cooperation on any supplementary budget to maximize economic impact. Furthermore, the government must develop a comprehensive next-generation growth strategy that effectively engages both households and businesses.“Economic forecast revisions (Oct. 2024 → Mar. 2025):· Economic growth rate: 2.2% → 1.5% (-0.7%p) / Potential growth rate: 2.1% → 1.9% (-0.2%p) 2025-03-31

Meeting with Mongolian Parliament's Tax Reform Task Force The National Assembly Budget Office met with the Mongolian Parliament's Tax Reform Task Force on February 26.Eleven Mongolian delegates, led by MP Khassuuri GANKHUYAG, met with NABO officials including Assistant Chief for Estimates and Tax Analysis Ji-won Sang, Director of Tax Analysis Kyung-yeop Baek, and Director of Planning and Budget Joo-yeon Park.Both parties discussed Korea's tax system, covering value-added, income, and corporate taxes.MP GANKHUYAG expressed that comparing Korean and Mongolian tax systems provided valuable insights for Mongolia's planned reforms, and requested continued cooperation between the two countries. 2025-02-26

NABO Hold the 4th Meeting of the 10th Budget Policy Advisory Committee On February 26th (Wednesday), the National Assembly Budget Office held the 4th meeting of the 10th Budget Policy Advisory Committee, composed of 18 experts from finance, taxation, economics, science, technology, environment, energy, and public administration.Eleven advisory committee members, led by Chairman Deok-ro Lee met with NABO Chief Dong-ha Chi and seven others to discuss: ① how U.S. presidential election results might affect Korea's fiscal and economic situation, ② finance’s role and sustainability in addressing the climate crisis and population decline, and ③ strategies to improve public acceptance and understanding of the tax system.Chief Chi emphasized, “with rising political and economic uncertainties domestically and internationally due to low birth rates, aging populations, and weak domestic demand, discovering new growth drivers and effective fiscal management solutions is crucial." He added, "Using the committee members’ insights, we will enhance our expertise and legislative support capabilities.”[The 10th Budget Policy Advisory Committee Member List (18 members in random order)]Deokro Lee, Prof. at Sejong Univ. (Chairperson); Kyungmin Kim, Assistant Prof. at Keimyung Univ.; Sangheon Kim, Prof. at Seoul National Univ.; Shiho Kim, Prof. at Yonsei Univ.; Youngse Kim, Prof. at Sungkyunkwan Univ.; Hongkyun Kim, Prof. at Sogang Univ.; Cheol Liu, Prof. at KDI School; Prof. Kibaek Park at Univ. of Seoul; Prof. Jhungsoo Park at Ewha Womans Univ.; Prof. Hun Park at Univ. of Seoul; Prof. Myungjae Sung at Hongik Univ.; Prof. Jaeun Shin at KDI School; Prof. Jaejin Yang at Yonsei Univ.; Assistant Prof. Jiyoon Oh at Myongji Univ.; Senior Advisor Yongjun Lee at Barun Law; Prof. Jaeyeon Jung at Kangwon National Univ.; Advisor Yeongrok Choi at Samjong KPMG; Prof. Geejoo Ha at Kyungil Univ. 2025-02-26

PCAsia(Parliamentary Centre of Asia) FACT-4 Study Mission Team Training The National Assembly Budget Office (NABO, headed by Director Ji Dong-ha) conducted training to strengthen fiscal analysis capabilities for the PCAsia FACT-4 Study Mission Team over two days from Wednesday, February 19 to Thursday, February 20.* PCAsia is an international organization established in Cambodia to contribute to the strengthening of Southeast Asian Parliaments. The FACT-4 is a training program for legislative staff to build capacity for fiscal and budget analysis of the type that would be found in a parliamentary budget office. The team has visited PBOs around the world, including those in Canada, Sweden, the Philippines, and Indonesia, to learn from their best practices and experiences.The Study Mission Team that visited NABO consisted of a total of 8 members, including 6 trainees from Thailand, the Philippines, Cambodia, Indonesia, and 2 PCAsia program managers. Nine NABO staff members, including Park Joo-yeon, Director of Planning and Budget, and Byun Jae-yun, Director of Economic Industry Program Evaluation, delivered lectures on topics such as National Fiscal Program Evaluation, Bill Cost Estimation, Mid- and Long-term Fiscal Outlook, Climate-responsive Budget and Policy Analysis, and Research Analysis and Fiscal Economic Statistics System.Ms. Chhuor Sryneath, FACT Program Manager from PCAsia, said, "This training has been an opportunity to learn advanced practices including the work experience and know-how of NABO," and expressed hopes for "continued exchange and cooperation in the future." 2025-02-20

Meeting with the Standing Committee on Budget of the National Assembly of Mongolia The National Assembly Budget Office (NABO) hosted a delegation from Mongolia’s Parliamentary Standing Committee on Budget on Thursday, February 6th. The meeting brought together key figures to discuss strengthening parliamentary oversight of public finances.Led by Chairman Ts. Davaasuren and MP J. Batjargal, the 12-member Mongolian delegation met with NABO Chief Dong-ha Chi and Assistant Chief for Planning and Management Seunghwan Chong.The discussions focues on several critical areas, including maintaining the independence of parliamentary budget organizations, improving the National Assembly’s review process for budgets and settlements, and implementing effective fiscal rules.Chairman Davaasuren noted that the timing of the visit was particularly valuable, as Mongolia is currently planning to reorganize its parliamentary budget organization. He expressed enthusiasm for continued collaboration between the two institutions. 2025-02-06

NABO Hosts First 2025 Meeting of Journal of Budget and Policy’s the 7th Editorial Board The National Assembly Budget Office (NABO) held its first 2025 meeting of the 7th Editorial Board for the Journal of Budget and Policy on Thursday, January 16.The editorial board oversees review and editing for NABO’s academic journal. Led by Professor Byungho Choi of Pusan National University’s Economic Department, the 7th board consists of 20 experts across disciplines.Twelve board members attended, including NABO Chief Dongha Chi and Chairman Choi. Two new members joined: Sunghoon Kang (Hanyang University) and Taewan Kim (Korea Institute for Health and Social Research). The meeting covered 2024 journal activities and quality improvement measures.Chairman Choi noted the journal’s status as an authority in national finance and economics, emphasizing the need to expand contributor base and strengthen its position as Korea’s leading fiscal publication.[The 7th Editorial Board Member List (20 members in random order)]Professor Byungho Choi, Pusan National University (Chairperson)Professor Youngrok Kim, Kangwon National UniversityAssociate Professor Byungjo Kim, Graduate School of Public Administration at Seoul National UniversityProfessor Bonghwan Kim, Graduate School of Public Administration at Seoul National UnivertiyProfessor Deokhyun Ryu, Chung-Ang UniversityProfessor Cheol Liu, KDI School of Public Policy and ManagementProfessor Hun Park, University of SeoulProfessor Sukha Shin, Sookmyung Women's UniversityProfessor Youngmin Oh, Dongguk UniversityResearch Fellow Jonghyeon Oh, Korea Institute of Public FinanceProfessor Seungwon Yu, Korea National Police University,Professor Dongkyu Lee, Dong-A UniversityAssistant Professor Eunmi Lee, Kookmin UniversityProfessor Sangsoo Lim, Chosun UniversityProfessor Seunghoon Jeon, Daegu UniversityProfessor Jongpil Chung, Local Government Officials Development InstituteProfessor Youngjun Choi, Yonsei UniversityProfessor Sunghoon Kim, Hanyang UniversitySenior Researcher Fellow Taewan Kim, Korea Institute for Health and Social ResearchTax Analysis Counsel Hyejeong Shim, National Assembly Budget OfficeThe Journal of Budget and Policy, published quarterly by NABO, accepts submissions of theoretical and policy papers on finance, economics, taxation, and public policy through their online portal (https://nabo.jams.or.kr). 2025-01-16

Working Meeting with OECD Head of Budgeting and Public Expenditures Division On Friday, November 22, the National Assembly Budget Office (NABO) held a working meeting with Mr. Jón R. Blöndal, Head of Budgeting and Public Expenditures Division at the OECD.During the meeting, NABO and the OECD shared updates on their major projects and engaged in discussions about global public finance and economic outlook, with a specific focus on Korea. They also reviewed the schedule and topics for the 17th Annual Meeting of the OECD Working Party for Independent Fiscal Institutions (IFIs) and Parliamentary Budget Officials (PBOs), which NABO attends annually, as well as the schedule and agenda for next year's Asian Network of PBOs meeting, which is jointly organized by NABO and the OECD.NABO’s Chief Chi expressed gratitude to Mr. Jón R. Blöndal for his significant contributions to exchanges and cooperation between NABO and the OECD. In response, Mr. Blöndal acknowledged NABO's co-chairmanship of the Asian Network of PBOs, praising its role in bridging OECD and non-OECD countries in the region, and expressed his enthusiasm for continued close collaboration with NABO in the future. 2024-11-22