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South Korea

Open Budget Survey 2017

Downloads:
Country Summary Questionnaire
Transparency

60

out of 100
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Public Participation

39

out of 100
Read More

Budget Oversight

85

out of 100
Read More

IBP considers countries that score above 60 on the Open Budget Index as providing sufficient budget information to enable the public to engage in budget discussions in an informed manner. IBP considers countries scoring above 60 on participation and oversight as providing adequate opportunities for the public to participate in the budget process and providing adequate oversight practices, respectively.

Transparency (Open Budget Index)

60

out of 100

South Korea provides the public with limited budget information.

How Has the Open Budget Index Score Changed Over Time?
Recommendations for Improving Transparency

South Korea should prioritize the following actions to improve budget transparency:

  • Produce and publish a Mid-Year Review
  • Increase the information provided in the Pre-Budget Statement with additional information on the macroeconomic forecast and estimates of government borrowing and debt.

Public Participation

39

out of 100

South Korea provides few opportunities for the public to engage in the budget process.

How Does Public Participation Compare to Other Countries in the Region?

Global Average 12/100
New Zealand 59/100
Australia 41/100
South Korea 39/100
Japan 20/100
Fiji 15/100
China 6/100
Papua New Guinea 6/100
Recommendations for Improving Participation

South Korea should prioritize the following actions to improve public participation in its budget process:

  • Pilot mechanisms for members of the public and executive branch officials to exchange views on national budget matters during the formulation of the national budget. These mechanisms could build on innovations, such as participatory budgeting and social audits. For examples of such mechanisms, see fiscaltransparency.net/mechanisms.
  • Hold legislative hearings on the formulation of the annual budget, during which members of the public or civil society organizations can testify.

Budget Oversight (by Legislature & Audit)

85

out of 100

The legislature and supreme audit institution in South Korea provide adequate oversight of the budget.

To What Extent Does the Legislature Provide Budget Oversight?

Formulation/Approval 81/100
Execution/Audit 93/100

The legislature provides adequate oversight during the budget cycle. This score reflects that the legislature provides adequate oversight during the planning stage of the budget cycle and adequate oversight during the implementation stage of the budget cycle.

To What Extent Does the Supreme Audit Institution Provide Budget Oversight?

Adequate 83/100

The supreme audit institution provides adequate budget oversight.

Recommendations for Improving Oversight

South Korea should prioritize the following actions to make budget oversight more effective:

  • Ensure the legislature holds a debate on budget policy prior to the tabling of the Executive’s Budget Proposal and approves recommendations for the upcoming budget.
  • Ensure audit processes are reviewed by an independent agency.

Learn More

The information on this page presents a partial country summary. For more detailed information, please download:


Open Budget Survey 2015

Downloads:
Country Summary - English Questionnaire

Transparency (Open Budget Index) 65/100 

The Government of South Korea provides the public with substantial budget information.

Public Participation 83/100 

The Government of South Korea provides the public with adequate opportunities to engage in the budget process.

Budget Oversight 

By legislature 73/100

Budget oversight by the legislature in South Korea is adequate.

By auditor 50/100

Budget oversight by the supreme audit institution in South Korea is limited.

Recommendations 

Improving Transparency

South Korea should prioritize the following actions to improve budget transparency:

  • Produce and publish a Mid-Year Review.
  • Increase the comprehensiveness of the Executive’s Budget Proposal by, for example, presenting more details on the classification of expenditures for future years and the classification of revenues for prior years.
  • Increase the comprehensiveness of the Pre-Budget Statement.
Improving Participation

South Korea should prioritize the following actions to improve budget participation:

  • Hold legislative hearings to review and scrutinize Audit Reports.
Improving Oversight

South Korea should prioritize the following actions to strengthen budget oversight:

  • Ensure the Executive’s Budget Proposal is approved by legislators at least one month before the start of the budget year.
  • In both law and practice, ensure the legislature is consulted prior to the spending of contingency funds that were not identified in the Enacted Budget.
  • Require legislative or judicial approval to remove the head of the supreme audit institution.

 


Open Budget Survey 2012

Downloads:
Country Summary - English Questionnaire

Open Budget Survey 2010

Downloads:
Country Summary Questionnaire

Open Budget Survey 2008

Downloads:
Country Summary Questionnaire

South Korea’s score on the Open Budget Index shows that the government provides the public with substantial information on the central government’s budget and financial activities during the course of the budget year. This gives citizens tools to hold government accountable for its management of the public’s money.


Open Budget Survey 2006

Downloads:
Country Summary Questionnaire



See more on budget work in South Korea »