The National Assembly Budget Office (Chief Cho Euysup) signed a memorandum of understanding (MoU) with the National Research Council for Economics, Humanities and Social Sciences (NRC, Chairperson Jung Hae-Gu) on Monday, November 21, at the National Assembly Budget Office Building.

The purpose of the MoU is to contribute to Korea's economic development through close cooperation when establishing policies on the national budget, account settlements, and funds, as well as fiscal management.

The two organizations promised to cooperate in the policy suggestions for the development of the economics and humanities sector, build systems for expert information sharing and collaboration between NABO and NRC/related research institutions, support cooperation in research/planning/assessment of the economics and humanities sector, run expert exchange programs linked with budget and account settlement policies.

From NRC, Chairperson Jung Hae-Gu, Secretary-General Hong Il-pyo, and National Strategy Research Center Vice Director Youn Doo Sup joined the ceremony. NRC is a public entity that supports Korea's research community and knowledge industry by supporting, fostering, and systematically managing 26 government-funded research institutes in the areas of economics, humanities, and social sciences, such as the Korea Development Institute and Korea Institute of Public Finance.