On Thursday, June 15, the National Assembly Budget Office (NABO) held a meeting with the consultation team from the ASEAN+3 Macroeconomic Research Office (AMRO) to discuss the current trends and prospects of the Korean economy.
The meeting was attended by five AMRO members, including Kevin C. Cheng. Representing NABO were Ah-Young Kwon, Head of the Estimates and Tax Coordination Division, Jin-Woo Lee, Head of the Social Cost Estimates Division, and Kyung-Yeop Baek, Head of the Tax Policy Analysis Division 2, among others. They engaged in discussions covering various topics such as the 2023 budget, fiscal rule, pension reform, and long-term fiscal issues.
Kevin Cheng expressed his satisfaction with the insights provided by NABO experts on the Korean fiscal situation and expressed his hope to revisit the office again later this year for further discussions.
AMRO is an international organization headquartered in Singapore, established by South Korea, China, Japan, and ten ASEAN countries, which includes Laos, Malaysia, Myanmar, Vietnam, Brunei, Singapore, Indonesia, Cambodia, Thailand, and the Philippines. Its primary mission is to monitor macroeconomics and prevent crises in the region. NABO has been engaging in annual consultations with AMRO since 2017 in response to AMRO’s requests.