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  • Planning & Coordination Office

    The Planning and Coordination Office is responsible for managing the Ministry: The Office manages the ministry's budget, supports the ministry's National Assembly related duties, draws up guidelines for implementing duties and facilitates coordination between different bureaus of the Ministry. The Office also administers the implementation of national policies and president's orders the ministry is responsible for.

    Organization

    • Director General for Policy Planning
      • Director for Planning and Finance
      • Director for Organization and Management Innovation
      • Director for Regulatory Reform and Legal Affairs
      • Director for ICT Management
    • Director General for Emergency Planning and Safety
  • Budget Office

    A budget is a plan for government revenue and expenditure for a designated time period. It serves as a means for allocating limited assets according to the government's priorities, thereby promoting policy implementation and supporting the livelihood of the people. The Budget Office strategically adjusts the size and structure of the budget and effectively carries out budgeting in line with the needs of the nation.

    Main Duties

    • Drafts the national budget and fund management plans while taking into account fiscal conditions and policy priorities
    • Develops mid- and long-term fiscal investment plans in accordance with national priorities
    • Provides guidelines for budget spending and public fund management
    • Finances local governments through the Special Account for Regional Development
    • Improves efficiency in the management of large-scale fiscal investment projects

    Organization

    • Deputy Director General for Budget Coordination
      • Budget Coordination Division
      • Budget Policy Division
      • Budget Standards Division
      • Public Fund Management Division
      • Budget Management Division
    • Deputy Director General for Social Affairs Budget
      • Employment and Environment Budget Division
      • Education Budget Division
      • Cultural Affairs Budget Division
      • Project Budget Management Division
    • Deputy Director General for Economic Affairs Budget
      • Land and Transport Budget Division
      • Industry and Information Budget Division
      • Agriculture, Forestry and Maritime Budget Division
      • Research and Development Budget Division
    • Deputy Director General for Administrative Affairs and Safety Budget
      • Administrative Affairs Budget Division
      • Safety Budget Division
      • National Defense Budget Division
      • Judicial Affairs Budget Division
    • Deputy Director General for Welfare Budget
      • Welfare Budget Division
      • Pension and Healthcare Budget Division
      • Regional Development Budget Division
  • TAX & CUSTOMS OFFICE

    The Tax and Customs Office covers policies in 14 categories of national tax sources including personal taxes, corporate-related taxes, consumer-related taxes, property-related taxes, and customs taxes on imports. The Office is also in charge of revenue budgeting and develops monthly plans for identifying and collecting tax revenue.

    Main Duties

    • Establishes tax policies and systems
    • Creates tax expenditure reports and designs tax incentive systems
    • Draws up tax revenue budgets and provides national tax revenue outlooks
    • Coordinates customs tariffs with regard to FTAs and multilateral tariff cooperation

    Organization

    • Deputy Director General for Tax Policy Coordination
      • Tax policy Division
      • Tax Analysis Division
      • Tax Relief Division
      • Tax Statutes Interpretation Division
    • Deputy Director General for Individual and Corporate Income Tax
      • Income Tax Division
      • Corporate Tax Division
      • Finance Tax Division
    • Deputy Director General for Property and Consumption Tax
      • Property Tax Division
      • Value Added Tax Division
      • Individual Consumption Tax Division
    • Deputy Director General for International Tax & Customs Affairs
      • Customs Policy Division
      • International Tax Division
      • Industrial Tariff Division
      • Customs Cooperation Division
      • FTA Customs Implementation Division
  • Economic Policy Bureau

    The Economic Policy Bureau forges mid- to long-term plans for economic and social development, sets up annual economic policy directions and oversees their implementation and coordination.
    By analyzing both domestic and global economic situations, the Bureau coordinates macroeconomic policies including fiscal and foreign currency policies and enhances the livelihood of citizens by fine-tuning policies for inflation, employment and welfare.

    Main Duties

    • Establishes economic policies and reviews mid- and long-term policy issues
    • Analyzes short- and long-term domestic and global economic trends as well as the balance of payments
    • Monitors financial market trends and works with related government agencies in developing financial and monetary policies
    • Draws up policies to ensure price stability and oversees policies on public utility fees
    • Coordinates policies with regard to household income and real estate market

    Organization

    • Economic Policy Division
    • Economic Analysis Division
    • Financial Market Division
    • Price Policy Division
    • Policy Planning Division
    • Macroeconomic Strategy Division
  • Economic Structural Reform Bureau

    Organization

    • Human Resources Policy Division
    • Inclusive Growth Policy Division
    • Population Policy Division
    • Social Welfare Policy Division
  • Future & Social Economy Bureau

    Main Duties

    • Establish mid- and long-term economic development strategies to ensure sustainable growth
    • Develop environmental initiatives, such as an emissions trading scheme, to counter climate change
    • Work to enhance labor market flexibility and establish policies that create jobs for young adults and women
    • Work to overcome demographic challenges and accelerate education reform
    • Carry out public pension reforms and develop a post-retirement income support system

    Organization

    • Future Strategy Division
    • Social Economy Policy Division
    • Cooperatives Policy Division
    • Climate Change Policy Division
  • Policy Coordination Bureau

    The Policy Coordination Bureau coordinates and fine-tunes a variety of economic policies, such as policies for improving the business environment, stabilizing the real estate market, enhancing the service industry, stimulating growth of small and medium-sized enterprises (SMEs) and venture businesses, developing science and technology, and using land for industrial purposes. The Bureau also manages the Ministerial Meeting on the Economy to discuss current economic issues.

    Main Duties

    • Coordinates economic policies involving different ministries by regularly organizing the Ministerial Meeting on the Economy
    • Promotes deregulation to boost investment and builds a business ecosystem conducive to SMEs, startups, and venture companies
    • Works to promote service industries, boost business activities, and nurture new growth engines
    • Coordinates policies for regional development while consulting with local governments
    • Establishes policies and provides clear directions regarding cooperatives

    Organization

    • General Policy Coordination Division
    • Industrial Policy Division
    • Growth Policy Development Division
    • Service Industry Policy Division
    • Regional Economic Policy Division
    • Business Environment Division
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  • Treasury Bureau

    The Treasury Bureau manages national finances in a stable and sound way and ensures sustainability of government finances in the long term. The Bureau has reformed its national financial management system to create added-value for the nation, in a situation where demographic shifts towards an aging population and a diminishing workforce may result in higher demands for public expenditure and decreases in public revenue Furthemore, the Bureau improves the Treasury bonds market, refoms public firms and enhances transparency in accounting

    Main Duties

    • Manages treasury funds efficiently by taking into account tax revenues and government spending
    • Regularly issues Korean Treasury Bonds (KTBs) and works to improve the KTB market
    • Works to improve income from government-owned properties and increase their value
    • Finances public projects through investments in public institutions while boosting accounting transparency and resource distribution efficiency in public institutions
    • Works to improve transparency and efficiency in the government procurement system

    Organization

    • Treasury Division
    • Government Bond Policy Division
    • Government Properties Policy Division
    • Government Properties Coordination Division
    • Public Enterprise Management Division
    • Public Contract and Procurement Policy Division
  • Fiscal Innovation Bureau

    Main Duties

    • Develops mid- and long-term fiscal policies, including 5-year fiscal management plans and fiscal resource allocation plans
    • Sets targets to manage the fiscal balance and government debt successfully and implements fiscal policies to ensure fiscal soundness and sustainability
    • Prepares for long-term fiscal risks, such as demographic changes, and provides a long-term fiscal outlook
    • Conducts in-depth evaluation of fiscal policies and analyzes fiscal indicators
    • Consults with major economies and international organizations on fiscal issues

    Organization

    • Fiscal Strategy Division
    • Expenditure Innovation Division
    • Fiscal System Division
    • Fiscal Consolidation Division
    • Fiscal Information System Division
    • Participatory Budgeting Division
  • Fiscal Management Bureau

    The Fiscal Management Bureau is in charge of general fiscal management, it has two primary tasks : to formulate mid- to long-term fiscal strategies and a roadmap for fiscal consolidation, and to manage budget spending and assess fiscal performance to improve fiscal effectiveness

    Main Duties

    • Evaluates the performance of fiscal projects and develops measures to improve efficiency and achieve better outcomes
    • Develops annual fiscal expenditure plans and regularly monitors budget execution
    • Evaluates public fund performance and manages investment pools
    • Conducts preliminary feasibility studies on fiscal projects and invites private sector creativity in public projects through PPPs (Public-Private Partnerships)
    • Prepares the National Financial Report and submits it to the National Assembly
    • Manages budget information using d-Brain, the Ministry comprehensive digital budget and accounting system

    Organization

    • Fiscal Management and Coordination Division
    • Fiscal Performance Evaluation Division
    • Feasibility Study Division
    • Public-Private Partnership Policy Division
    • Government Accounting Policy and Financial Report Division
    • Fiscal Information System Division
  • Public Institutions Policy Bureau

    The Public Institutions Policy Bureau formulates and implements measures for advancing public firms through privatization and restructuring. The Bureau aims to enhance managerial transparency of public firms and assess their managerial performance to realize efficient and responsible management. It recruits chief executives in an open, fair impartial way and encourages innovative management to improve public servies.

    Main Duties

    • Provides public institutions with policy guidelines and improves management efficiency in public institutions
    • Improves public institution governance by introducing a fairer, more transparent system for senior executive selection and strengthening the role of non-executive board members and auditors
    • Supervises and evaluates how public institutions are managed
    • Evaluates public institution compliance with government guidelines

    Organization

    • Public Institutions Policy Coordination Division
    • Public Institutions System Planning Division
    • Public Institutions Finance Management Division
    • Public Institutions Assessment and Analysis Division
    • Public Institutions Human Resources Division
  • International Finance Bureau

    The International Finance Bureau is in charge of a variety of policies for international finance, such as analyzing international financial market trends and formulating policy responses, making efforts to upgrade Korea's sovereign credit ratings to stabilize domestic foreign currency transaction Exchange markets and improving the foreign currency transaction system, foreign exchange reserves and external debts Among its other duties is to strengthen cooperation with international financial institutions such as the ADB, IMF, and World Bank, as well as with the Group of 20(G20), consisting of both advanced and emerging economies.

    Main Duties

    • Closely monitors global financial markets and develops international financial policies to maintain Korea's external stability
    • Designs policies based on market trend analysis in order to stabilize the FX markets
    • Introduces and amends FX transaction regulations to ensure both free international economic transactions and effective monitoring of cross-border FX flows
    • Promotes regional financial cooperation through various measures and arrangements, including the Chiang Mai Initiative Multilateralization
    • Enhances cooperation with international financial institutions such as the IMF, World Bank, and regional development banks

    Organization

    • International Finance Division
    • Foreign Exchange Market Division
    • Foreign Exchange Policy Division
    • International Monetary System Division
    • Multilateral Financial Cooperation Division
  • Development Finance Bureau

    Korea is assuming greater leadership in the global economy

    Main Duties

    • Works to strengthen G20 policy coordination for strong, sustainable, and balanced global economic growth
    • Actively participates in multilateral and bilateral meetings with major G20 countries
    • Promotes economic cooperation in the Asia-Pacific region through APEC meetings and enhances Asia-EU relations through ASEM
    • Coordinates policies related to the Green Climate Fund (GCF)

    Organization

    • Development Finance Division
    • Macroeconomic Framework Division
    • International Monetary System Division
    • Green Climate Policy Division
  • International Economic Affairs Bureau

    The International Economic Affairs Bureau pursues bilateral cooperation with the U.S., Japan, China, Russia, the EU, North Korea, and other countries in the Asia-Pacific Region, Latin America and Africa. The Bureau also seeks multilateral cooperation not just with APEC and ASEM, but also with international economic organizations including the OECD, WTO, and UNCTAD. The Bureau is responsible for developing and fine-tuning policies and strategies for Free Trade Agreements (FTAs), Official Development Assistance (ODA), foreign direct investment, and overseas investment.

    Main Duties

    • Establishes international economic policies and acts as a control tower among ministries
    • Leverages FTAs to tap overseas markets and promotes the development of new growth engines
    • Promotes ODA through the Economic Development Cooperation Fund and the Knowledge Sharing Program
    • Prepares for the reunification of the Korean Peninsula

    Organization

    • International Economic Policy Division
    • International Economic Cooperation Division
    • Trade Policy Coordination Division
    • Development Cooperation Division
    • Inter-Korean Economic Relations Division
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  • Korea Lottery Commission

    The Lottery Commission has set up an efficient framework for lottery issuance and sales to implement an evaluation system ensuring the prudent distribution and use of lottery fund proceeds. The Commission undertakes all lottery-related operations, ranging from the issuance, management, and sales of lottery tickets to the distribution and usage of lottery proceeds. The Commission allocates lottery earnings to promote a caring and sharing society in Korea.

    Main Duties

    • Determines the types and face value of lottery tickets as well as the total amount of tickets to be issued
    • Formulates lottery fund management policies and determines how to allocate lottery proceeds
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ORGANIZATION

ABOUT MOSF ORGANIZATION
Minister
Spokesperson
Director for Audit
and Inspection
Policy Advisor
to the Minister
1STVice Minister
2NDVice Minister
Deputy Minister
Deputy Minister For
International Affairs
Deputy Minister for
Fiscal Affairs
Planning &
Coordination
Office
Budget
Office
Tax &
Customs
Office
Economic
Policy
Bureau
Economic
Structural
Reform Bureau
Future &
Social Economy
Bureau
Policy
Coordination
Bureau
Treasury
Bureau
Fiscal
Innovation
Bureau
Fiscal
Management
Bureau
Public
Institutions
Policy Bureau
International
Finance
Bureau
Development
Finance
Bureau
International
Economic
Affairs Bureau
Korea Lottery
Commission

Government Agencies under MOSF

  • National Tax Service
  • Korea Customs Service
  • Public Procurement Service
  • Statistics Korea
Last updated : October 4, 2016