State-owned enterprises (SOEs) in Korea have played a vital role in the national economy and are instrumental in carrying out major national agenda. The increasing demands of citizens have placed significant pressure on SOEs to be efficient in their operations, to improve performance and service delivery, and to solve market discipline challenges. . The All Public Information In-One (ALIO) system, a Korean internet-based public disclosure system, is at the forefront of transparency and data collection.In the integrated disclosure context, the trend for environmental, social, and governance (ESG) has conferred greater significance on the social value and ESG items to address the climate crisis, and social and corporate governance issues. Enhanced ESG disclosure through ALIO is expected to facilitate ESG management efforts at SOEs and encourage private businesses to adopt ESG practices as well.This report provides an overview of the ALIO system and the integrated disclosure system and explains how integrated disclosure can assist SOEs in fulfilling their policy functions, promoting transparency, and improving the public monitoring function.
The spread and severity of the COVID-19 pandemic continues to accelerate. Fiscal policy in countries around the world needs to respond to be able to combat the health and economic impacts of COVID-19. As countries are ramping up efforts to slow the spread of COVID-19 and raise the capacity of health care systems to treat affected patients, the global economy is slowing down. This report provides guidance to country economists and teams for assessing fiscal policy measures that fit country circumstances. Click here to view the full report.
This report mainly delves into the budgets and the governments' key fiscal policies for the year 2020 in the selected Asian countries: Cambodia, Indonesia, Korea, Malaysia, Myanmar, the Philippines, Thailand, and Vietnam. The report was prepared based on the initial 2020 Budgets approved before the outbreak of COVID-19, relevant documents published by each country, and the information from the PEMNA Budget Community of Practice members, local news articles, and the publications by the international organizations.The report was published by the Korea Institute of Public Finance in July 2020.
The annual financial statement is somewhat challenging to understand for ordinary citizens.This financial statement brief, co-authored by the Korea Ministry of Economy and Finance and the Korea Public Finance Information Service, aims to explain how money was raised and spent in 2019 presented in an easy-to-read format, enabling citizens to take part in informed participation about government financial activities and fiscal integrity.