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NABO Holds the 2nd Meeting of the 10th Budget Policy Advisory Committee The National Assembly Budget Office held the second meeting of its 10th Budget Policy Advisory Committee on Tuesday, June 25. The meeting was attended by 13 advisory committee members, including Chairman Deokro Lee.The focus of the meeting was on improving fiscal, tax, and economic policies for the 22nd National Assembly. The advisors discussed several key policy areas, including fiscal and taxation strategies, climate change response, addressing low birth rates and aging population issues, social security and pension reform, and growth of new industries.NABO Chief Euysup Cho stated, "With the opening of the 22nd National Assembly, NABO is committed to enhancing its expertise as a fiscal institution and strengthening its capacitiy to support legislative processes." 2024-06-25
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NABO Meets with Philippine Local Governors’ Study Mission Team On Tuesday, June 4, the National Assembly Budget Office (NABO) had a meeting with a visiting delegation from the Philippines.The meeting was attended by 27 Philippine vice governors, including Vice Governor Katherine C. Agapay, along with staff members from the Development Academy of the Philippines (DAP) and KDI School of Public Policy and Management. Representing NABO were Chief Euysup Cho, Assistant Chief Yangsung Lee, Tax Analysis Counsel Hyejeong Sim, and and Program Evaluation Counsel Yongsu Chun.NABO and the Philippine delegation exchanged views on various topics, including budgeting processes, account settlement, fiscal management procedures, efficient institutional management, maintaining independence in operations, and efficient recruitment strategies. Both parties agreed to continue their exchange in the future. 2024-06-04
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NABO Meets with the Thai Delegation On June 3, 2018, the National Assembly Budget Office (NABO) had a meeting with a delegation from the Committee on Budget Study and Budget Administration of the Thai House of Representatives.The meeting was attended by 17 members of the Thai delegation, including Chairman Natthaphong Ruengpanyawut and Vice Chairman Surachet Pravinvongvuth. Representing NABO were Chief Euysup Cho, Assistant Chief Yangsung Lee, Tax Analysis Counsel Hyejeong Sim, and Proram Evaluation Counsel Yongsu Chun.The two groups engaged in in-depth discussions on several topics, including the role of parliamentary budget officials in the budget process, the current status of the cost estimation system, timing and methods for providing economic forecasts, and recruitment strategies and personnel management. Both parties agreed to continue their close collaboration through the Asian Parliamentary Budget Officials Network. 2024-06-03
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The 2nd NABO-OECD Annual Conference of Asian Parliamentary Budget Officials The National Assembly Budget Office hosted the opening ceremony of the 2nd NABO-OECD Annual Conference of Asian Parliamentary Budget Officials (PBOs) in collaboration with the Organization for Economic Cooperation and Development (OECD) at 9:30 a.m. on Thursday, April 25, in Conference Room 1 of the National Assembly Members’ Office Building. The conference ran until Friday, April 26, with the theme of "The Budget Process and the Role of Parliament." In his opening remarks, Mr. Euysup Cho, Chief of NABO, expressed his hope that the conference would serve as an opportunity to enhance the effectiveness of parliamentary support activities by examining the budget process and the role of PBOs in each country. In his congratulatory remarks, Mr. Kim Jin-pyo, Speaker of the National Assembly of Korea, emphasized the importance of PBOs in the budget process and expressed his hope for the growth of the Asian PBOs network through in-depth discussions among participating nations. The event included a keynote speech by Mr. Mark Hadley, Chair of the OECD PBOs Network, and a panel discussion moderated by Chief Cho. Following the keynote, a panel discussion featured Mr. Jon Blondal, Head of Public Management and Budgeting Division at the OECD, Ms. Chanthy Nop, Director of the Cambodian Senate’s Research Department, and Ms. Chrysanthe Psychogios, Assistant Parliamentary Budget Officer at the Australian PBO. They discussed the role of PBOs in supporting rational decision-making and enhancing parliamentary effectiveness. During the afternoon session, participants engaged in in-depth discussions on (1) the role of parliaments and PBOs in budget formulation and deliberation, (2) strategies to strengthen PBOs’ capacity to establish fiscal competence, and (3) the development of a cost estimation system to support rational decision-making. "We hope that the various cases and discussions presented at this second annual conference will provide valuable for the work of PBOs in each country, and we remain committed to expanding the Asian PBO network through close cooperation with the OECD and participating countries," stated Chief Cho. 2024-04-25
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Meeting with the Organization for Economic Cooperation and Development (OECD) Mission Team 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. 2024-03-26
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Joint Seminar by NABO and KAPF The National Assembly Budget Office and the Korean Association of Public Finance hosted a joint seminar on Friday, March 22.Aiming to foster stronger ties and cooperation between the two entities, this event served as a platform for sharing NABO’s practical experience and KAPF’s research findings. The seminar saw the participation of Euysup Cho, the Chief of NABO, and Chul-In Lee, the President of the KAPF.The event featured presentations by several esteemed speakers: Cheol-min Choi, head of the Budget Analysis Coordination Division at NABO; Jin-woo Lee, head of the Social Cost Estimates Division at NABO; Heon-jae Song, a professor at University of Seoul; and Sung-hwan Kim, associate research fellow at the Korea Institute for Foreign Economic Policy. The discussions covered a wide range of topics, including the National Assembly's right to deliberate on budget and accounts, the utilization of the bill cost estimation system, the impact of expected national pension income on children's private education costs, and the implications of student debt relief programs."We are pleased to have the opportunity to share our knowledge andexperiences through this joint seminar," said Chief Cho. “We look forward to fostering ongoing exchanges and collaborations, contributing to the mutual development of both organizations." 2024-03-22
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MOU with the Chungcheongnam-do Council The National Assembly Budget Office (Chief Euysup Cho) signed an MOU with the Chungcheongnam-do Council (Chairperson Kilyon Cho) on Tuesday, March 19, at the Council’s International Press Conference Center in Chungcheongnam-do.This MOU signing ceremony, aimed at bolstering fiscal operations, saw the participation of notable figures including NABO Chief Euysup Cho, Assistant Chief Yangsung Lee, Head of the Planning and Budget Division Juyeon Park, Head of the Estimates & Tax Coordination Division Ahyoung Kwon, and key members from the Chungcheongnam-do Council such as Chairperson Kilyon Cho, Vice Chairperson Bokman Kim and Seonghyeon Hong, and Secretary-General Junggu Lee.Under the MOU, the two organizations will work closely with each other to advance their work in the fiscal field, including budget/account settlement analysis and cost estimation, share information, establish a cooperative framework, organize joint research and scholarly activities on critical issues, and facilitating exchanges of personnel to bolster expertise and mutual understanding.Chief Cho highlighted the significance of the partnership, stating, “Signing this MOU with the Chungcheongnam-do Council is a groundbreaking moment for us, being the first of its kind with local councils. We look forward to this collaboration playing a pivotal role in energizing the council’s parliamentary activities and elevating the espertise of the Council Secretariat.” 2024-03-19
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First Editorial Board Meeting of the Journal of Budget and Policy for 2024 The National Assembly Budget Office (NABO) has established the 7th Editorial Board for the Journal of Budget and Policy and convened its first meeting of 2024 on Thursday, February 22, at the NABO building.The editorial board functions as a committee responsible for decisions regarding the review and editing of articles for the Journal of Budget and Policy, a scholarly publication of NABO. Comprising 18 experts from various disciplines, the 7th editorial board is chaired by Professor Byungho Choi of Pusan National University's Economics Department. During the meeting, a five-member research ethics committee was established to enhance the future oversight of research ethics violations. Additionally, the board deliberated on strategies for assembling special issue papers to elevate the journal's quality.Published by NABO, the Journal of Budget and Policy is a registered journal that discovers and publishes theoretical and policy papers related to finance, economics, taxation, and public policy. This quarterly journal is always open for paper submissions.[The 7th Editorial Board Member List (18 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 UniversityTax Analysis Counsel Hyejeong Shim, National Assembly Budget Office 2024-02-22
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NABO Meets with the Australian Embassy On Wednesday, February 21, the National Assembly Budget Office (NABO) held a meeting with representatives from the Australian Embassy in Seoul to discuss Korea’s changing demographics and fiscal outlook.The meeting saw the participation of three embassy representatives, including Mr. Andrew Deitz, Minister-Counsel (Economic) and Australia’s Senior Treasury Representative to Korea and Japan. Also present was Ms. Gahyeong Hur, Head of Population & Strategy Analysis Division at NABO. They engaged in discussions about Korea's demographic shifts and policy measures, its medium- to long-term fiscal projections, and Australia's immigration policy.Mr. Deitz expressed that the meeting provided him with valuable insights into Korea's demographic challenges and fiscal matters. He also conveyed his hope that this visit would rejuvenate the exchanges between the two entities, which had been on hold due to the pandemic. 2024-02-21
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NABO Conducts Consultation with Gyeonggido Assembly’s Innovation Task Force On Thursday, February 1, the National Assembly Budget Office conducted a meeting with the Innovation Task Force of the Gyeonggido Assembly.The consultation was attended by 11 members from the Task Force, including five lawmakers: Woo-sik Yang and Sung-hwan Cho, co-chairs of the Gyeonggido Assembly's Innovation Task Force, and Young-chul Bae, Chief of Staff at the Gyeonggido Assembly Secretariat. Representing NABO were Euy-sup Cho, the Chief of the Office; Yang-sung Lee, Assistance Chief for Planning and Management; Joo-yeon Park, Head of Planning and Budget Division; Chul-min Choi, Head of Budget Analysis Coordination Division; and Ah-young Kwon, Head of Estimates and Tax Coordination Division.The consultation focused on several key areas, including NABO’s operational practices, the cost estimation work system, the timing and scope of budget analysis, and the evaluation of analysis performance. Additionally, the meeting included in-depth discussions on ways to exhance exchanges between NABO and the Gyeonggido Assembly and to strengthen cooperation in cost estimation.Chief Cho stated, "We hope this consultation will invigorate parliamentary activities within the Gyeonggido Assembly, and NABO will foster a network between the National Assembly and local councils to share experiences and expertise in cost estimation." 2024-02-01