NABO Holds 22nd Anniversary Ceremony The National Assembly Budget Office held its 22nd anniversary ceremony on Wednesday, October 15, at 9 AM in the National Assembly Library auditorium. National Assembly Speaker Won-shik Woo, Rep. Hyungbae Min, Soojin Lee, and Chinook Chung from the Democratic Party, Rep. Manhee Lee, Boyun Choi, and Hyungdu Choi from the People Power Party, and numerous staff members attended the event. The ceremony included a commemorative address by NABO Chief Dongha Chi, presentation of merit plaques by Speaker Woo, acceptance speeches, and a cake-cutting ceremony. The Speaker's Merit Plaques were awarded to lawmakers who utilized NABO's services to enhance the Assembly's standing: Democratic Party Representatives Hyungbae Min, Joonbyeong Yoon, and Soojin Lee, and People Power Party Representatives Manhee Lee and Boyun Choi. Speaker Woo praised NABO's contributions to expanding legislative support activities and urged the office to continue providing in-depth analysis and policy alternatives for rational decision-making. Chief Chi attributed the 22-year achievements to support from lawmakers and staff dedication, pledging to become "the premier fiscal institution recognized and trusted by the National Assembly and the Korean people through objective and professional alternatives." NABO was established on October 19, 2003, to research and evaluate national budget, account settlement, fund, and fiscal management matters while supporting legislative activities. 2025-10-16

Press Conference on Tax Policy for Climate Change Response: Status and Challenges in Korea The National Assembly Budget Office held a press conference on recently published report, Tax Policy for Climate Change Response: Status and Challenges in Korea, on Monday, September 29, at the National Assembly Press Room. The press conference was conducted through a briefing by NABO Chief Dongha Chi, which introduced the role of tax policy in responding to the climate crisis and future challenges, domestic carbon tax legislation and research trends, and key issues. In the briefing, Chief Chi stated, "Korea's tax policy does not provide sufficient signals to induce carbon reduction as a response to climate crisis. Therefore, it will be necessary to establish a tax rate system that considers carbon emissions, strengthen tax support to promote low-carbon investment and technological innovation, and enhance complementary links between the tax system and greenhouse gas reduction-related systems such as the emissions trading scheme." He added, "We expect this research to serve as meaningful reference material for the National Assembly's climate crisis response activities, including the Special Committee on Climate Crisis." 2025-09-30

Press Conference on Responding to the Climate Crisis: Pathways to Carbon Neutrality The National Assembly Budget Office held a press conference on recently published report, Responding to the Climate Crisis: Pathways to Carbon Neutrality, on Monday, September 22, at the National Assembly Press Room. The press conference proceeded with opening remarks by National Assembly Speaker Won-shik Woo, followed by a report briefing by NABO Chief Dong-ha Chi, emphasizing the National Assembly's role in responding to the climate crisis and achieving carbon neutrality while introducing the key contents of the report. Speaker Won-sik Woo remarked, "The climate crisis is not a future threat but today's reality, and the capacity to respond to the climate crisis is directly linked to the nation's industrial competitiveness," adding, "Moving forward, the National Assembly will strive to comprehensively analyze not only the climate crisis but also national issues such as population decline and inequality, and to provide practical solutions." NABO Chief Dong-ha Chi emphasized, "This report will serve as important foundational material for the National Assembly's legislative activities, including the Special Committee on Climate Crisis, by comprehensively presenting the National Assembly's climate crisis response activities and future tasks," adding, "I hope this will serve as an opportunity to remind us that carbon neutrality, as a national strategic task, is an issue directly connected to industrial competitiveness, public safety, and the lives of future generations, going beyond mere environmental policy." 2025-09-24

Meeting with the Organisation for Economic Co-operation and Development (OECD) The National Assembly Budget Office (Chief Dongha Chi) held a meeting with a mission team from the Organisation for Economic Co-operation and Development (OECD) on Friday, September 19. The meeting was attended by officials from NABO including Director Ah-young Kwon of the Estimates and Tax Coordination Division, Planning and Budget Division Director Hyung-jin Kim, as well as Jon Pareliussen, Head of the Korea/Sweden Desk at the OECD, among others. NABO and the OECD mission team engaged in in-depth discussions on fiscal policy from a long-term sustainability perspective, revenue forecasts and measures to secure additional revenue, tax system reform measures to address income inequality, and regional balanced development policies. OECD Mission Head Jon Pareliussen stated, "We are pleased to hear detailed opinions on Korea's fiscal issues through NABO," adding, "As Korea faces declining workforce and birth rates, I believe the Budget Office's role will become even more important in securing fiscal sustainability and strengthening fiscal rules." 2025-09-19

NABO Conducts Annual Consultation with the IMF The National Assembly Budget Office (Chief Dongha Chi) held its annual consultative meeting with the International Monetary Fund (IMF) on Friday, September 12, in compliance with Article IV of the IMF’s Articles of Agreement. This annual consultation process is a standard procedure through which the IMF engages with member countries to discuss broader economic matters, including macroeconomic, foreign exchanges, and financial issues.  The meeting was attended by Hyejeong Sim, Tax Analysis Counsel at NABO, and Mr. Radul Anand, Mission Chief for Korea at the IMF among others. NABO and the IMF had in-depth discussion on short- and long-term financial issues such as Korea’s fiscal policy, taxation, and pension systems.   Short-term topics included evaluation of the 2026 budget proposal, the impact of budget expansion for advanced industries and supply chain strengthening on contingent liabilities, and coordination between monetary and fiscal policies. Long-term discussions focused on health insurance and pensions fiscal projections, tax revenue expansion, and establishment of fiscal rules and buffers. Korea Mission Chief Raful Anand concluded, “It was meaningful to hear diverse perspectives on Korea’s fiscal situation from NABO experts. I hope we can continue our ongoing exchanges and close communication.” 2025-09-12

NABO Hold the 1st Meeting of the 11th Budget Policy Advisory Committee On August 29th (Friday), the National Assembly Budget Office held the inaugural meeting of its 11th Budget Policy Advisory Committee, composed of 19 experts from finance, economics, science, technology, environment, energy, and public administration. During the meeting, committee members elected Professor Tobin Im from Seoul National University’s Graduate School of Public Administration as the new chairperson. Following his appointment, the committee discussed recommendations for NABO’s future development and research priorities.  Advisory members praised NABO’s significant contributions to strengthening parliamentary fiscal oversight through its work in budget analysis, cost estimation, fiscal and economic forecasting, and tax analysis. Looking ahead, they recommended that NABO enhance its analytical capabilities in emerging areas such as AI and advanced technologies, energy, climate change, demographic shifts, and natural disaster preparedness. They also emphasized the need to improve public communication of research findings and develop strategies for recruiting top talent. NABO Chief Dongha Chi remarked, “Korea faces complex challenges both at home an abroad, making effective fiscal management more critical than ever. Drawing on the valuable insights and encouragement from our advisory members, we are committed to further strengthening our expertise and support for legislative decision-making.” [The 11th Budget Policy Advisory Committee Member List (19 members in random order)] Tobin Im, (Chairperson) Professor, Seoul National University Graduate School of Public Administration, Soonman Kwon, Professor, Seoul National University Graduate School of Public Health, Yeongjin Gwon, former Deputy Secretary General for Legislative Affairs, National Assembly, Shiho Kim, Professor, School of Integrated Technology, Yonsei Univertisy, Youngse Kim, Professor, School of Economics, Sungkyunkwan University, Jhungsoo Park, Professor, Department of Public Administration, Ewha Womans University, Hyungjun Park, Professor, Department of Public Administration, Sungkyunkwan University, Jiyoon Oh, Assistant Professor, Department of Economics, Myungji University, Seongbin Yim, former Commissioner, NTS Seoul Regional Office, Kyuan Jeon, Professor, Department of Accounting, Soongsil University, Chunglae Cho, Professor, Department of Public Administration, Ewha Womans University, Chul Choi, Professor, Department of Consumer Economics, Sookmyung Women’s University, Hyangmi Choi, Professor, School of Business, Chungnam National University, Geejoo Ha, Collaboration Professor, Hanyang University, Eunnyeong Heo, Professor, Department of Energy Resources Engineering, Seoul National University, Jung Hur, Professor, Department of Economics, Sogang University, Kiseok Hong, Professor, Department of Economics, Ewha Womans University, Sunghoon Hong, Professor, Department of Science in Taxation, University of Seoul, Jongho Hong, Professor, Seoul National University Graduate School of Environmental Studies. 2025-08-29

Meeting with Moody's Annual Consultation Team The National Assembly Budget Office held a meeting with Moody's annual consultation team on Thursday, August 7th.The meeting was attended by Sim Hye-jeong, Tax Analysis Counsel, and Kim Hyung-jin, Director of Planning and Budget at NABO, along with Anushka Shah, Vice President – Senior Analyst in the Sovereign Risk Group at Moody's, among others.NABO and Moody's annual consultation team engaged in in-depth discussions on various topics including: evaluation of the recently formulated supplementary budget, revenue projections for 2025, long-term fiscal outlook, the impact of the current trade environment on public spending, the effects of population aging on pensions and public expenditure, and the fiscal soundness of public institutions.Concluding the meeting, Team Leader Anushka Shah stated, "The experts from NABO have been extremely helpful in understanding and forecasting Korea's fiscal and economic situation," and expressed hope that "active exchanges and cooperation will continue in the future." 2025-08-07

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