Assignment Subject : Korean Administration Theory Submitted by : rahimberdiyev sardorbek

National finance act
National Finance Act sets the guidelines for the budget, funds, closing accounts, performance management and government debt. It aims at an efficient, performance-oriented and transparent management of the public finance.


Local finance act
Local Finance Act sets the basic principles for the finances and accounting of the local governments. Its purpose is to guarantee the autonomy, transparency and soundness in local finances.


National Assembly act

Its purpose is to maintain a democratic and efficient National Assembly, a representative body for the People, by regulating its structure, agenda and other necessary items. It administers the standing committees, Special Committee on Budget and Accounts, and other groups related to the budget and settlement processes, as well as the deliberation process itself.

Other budgetary legislation

Additional legislations related to budgeting include: Act on Management of Subsidies, Tax Act, Framework Act on Management of Charges, Act on Public-Private Partnership in Infrastructure, and etc.

Fiscal reforms in Korea

-Authoritarian regimes influences on budget

-Especially fiscal reforms was began after democratization movement in 1987

Three plus one fiscal reforms

-National fiscal management plan replaced Five year plan
-Top down budgeting was in close relationship with National fiscal management plan

-performance management – Review every three year

-digital accounting