Assignment Subject : Korean Administration Theory Submitted by : rahimberdiyev sardorbek

Supplementary budget

-Fiscal year- from 1^st January to 31^st December.

-Budget amendment according to constitution
-Supplementary revised budget bill
-Assembly’s resolution influence/priorities


Budget process

Budgetary process in Korea consists of four step: implementation, audit, proposal and approval.

-Executive’s proposal on budget draft in advance


Stages of the budgetary process

Main tasks of administration in budget formation:

▪ Guidelines for National Fiscal Management Plan (DEC before the fiscal year)

▪ Submission of Medium-term Project Plan (End of JAN)
▪ Drafting of National Fiscal Plan (FEB-APR)
▪ Guidelines for Budgeting and Spending Ceilings (End of APR) ▪ Fiscal Strategy Meeting of the Cabinet (End of APR)
▪ Budget Request and Performance Plan (MAY-JUN)
▪ Submission of Budget Request (End of JUN)
▪ Drafting of the Budget Proposal (JUL-SEP)
▪ Advisory Council on Fiscal Policy and Meeting between the
cabinet and the ruling party (SEP)
▪ Submission to National Assembly (OCT 2)


Deliberation by the National Assembly (Y-1):

▪ Speech on Administrative Policy

▪ Comprehensive Review by the Special Committee on Budget and
Accounts
(Public hearing - proposal enunciation - review report by a head expert - comprehensive interpellation - review by departments - review by subcommittee on adjustment of figures - general meeting vote)
▪ Review and vote at plenary session (DEC 2)


Major Budget Laws

The constitution

The Constitution is at the top of the Korean legal system. Chapter 54 of the Constitution gives the government(administration) the power to draft the national budget and the National Assembly the deliberation and approval of the national budget. As part of the checks and balance system between the administration and the National Assembly, Chapter 57 restricts the National Assembly from increasing the budget or from creating a new budget item without the agreement of the government.