Creating a brighter tomorrow for all. We will strive to become a policy research
institute that improves the quality of life for all citizens.
Standing at the new center of national administration and policy, the executives and staff members of the Korea Institute of Public Finance pledge to work even harder to bring greater hope for the future to the people of Korea.
Founded in July 1992 as the only national research institute in the areas of tax and public finance, KIPF has raised the nation’s status to a higher level by establishing the government’s major policies through numerous research and studies since its inception. For nearly 30 years, KIPF has been transformed into truly the best national think tank, whose research scope encompasses the entire national economy and policy sectors, ranging from tax and fiscal policy to fiscal performance evaluation, public institutions policy, government investment analysis, government accounting and financial statistics, etc.
Your consistent trust and encouragement have been the nourishment for our growth.
Currently, Korea is facing a more extraordinary situation than ever, with external shocks of COVID-19 added to demographics changes caused by the low birth rate and aging population, deepening poverty among the elderly, the polarization of personal income and assets, job losses for young people, real estate market instability, and increased welfare demand. The increase in fiscal expenditures to protect the vulnerable from COVID-19 shocks as well as economic recessions has led to a steep increase in government debt, raising public concerns over fiscal soundness.
In an effort to overcome stagnation from the prolonged COVID-19, we have to increase disposable income and encourage consumptions by reducing the tax burdens of citizens, which will ultimately be used as a leverage to boost the economy and create more jobs. “Integrative Reform” is urgently needed, such as the improvement of the revenue structure to enhance fiscal soundness, maximization of the efficiency of fiscal expenditures, achievement of performance innovation in public institutions, etc.
Furthermore, we will contribute to raising the international status of Korea and making a better world by passing on our “Miracle of the Han River” know-how to developing countries. KIPF will strengthen international aids in tax sector through various international development projects, such as Official Development Assistance(ODA), Knowledge Sharing Program(KSP), etc., and also try to make “contributions to the international community through research and training” by providing consultation to developing countries in Asia, Africa, etc. with respect to the digitization of tax administration and tax reforms.
As economic and policy experts, KIPF will always remember that “people are the owners of the country” when supporting the formulation of national policies and make great contributions to the national economic development by acting proactively to find the urgent policy demands that our economy needs to address.
We believe that this is the only way to live up to the trust of the people and serve the nation.