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.
Hello, I am Jae-Jin Kim, the 14th president of the Korea Institute of Public Finance (KIPF).
KIPF, which was founded in July 1992 as the only national research institute in the areas of tax and public finance, has contributed to making the government’s major policies through numerous studies over the past 29 years.
The number of employees has increased fivefold from 62 at the time of its establishment to 352 as of 2021, and KIPF has become the best national think tank in name and reality, encompassing the entire national economy and policy sector by expanding its research scope beyond tax policy to fiscal policy, fiscal performance evaluation, public institutions, government investment analysis, government accounting and financial statistics, etc.
Your consistent trust and love were the nourishment for 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 income and assets, job losses for young people, real estate market instability, and increased welfare demand.
The increase in fiscal expenditure to protect the vulnerable from COVID-19 shocks and face economic recessions has led to a steep increase in government debt, raising public concerns over fiscal soundness. The foundation of our economy is now shaking, while we do not know how long the dark clouds of COVID-19 will last.
Accordingly, we have to increase disposable income and encourage consumption by reducing the tax burdens of citizens who are suffering from consumption and employment slumps created by the prolonged COVID-19, leveraging it to boost the economy and create jobs. “Integrative reform” is urgently needed, such as the improvement of the revenue structure to enhance fiscal soundness, maximization of the efficiency of fiscal expenditure, performance innovation in public institutions, etc.
Now, the role of KIPF, which encompasses tax and public finance, public institutions, government investment analysis, government accounting and financial statistics, international relations, etc., is more important than ever.
Using these capabilities of KIPF, we will contribute to raising the international status of Korea and making a better world by delivering our “Miracle of the Han River” know-how to developing countries. The Korean Peninsula, devastated by the Korean War, could achieve tremendous economic success with warm hands from countries around the world, and it became the first case of change in its status from a recipient country to a pure donor country.
KIPF will strengthen tax sector international aids through Official Development Assistance projects and also try to make “contributions to the international community through research and training” by providing consulting to developing countries in Asia, Africa, etc. with respect to the digitization of tax administration and tax reforms.
Finally, as economic and policy experts, we will do our best to establish policy alternatives without forgetting the fact that “people are the owners of the country.” We will support the establishment of national policies and contribute 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 respond to the love of the people and serve the nation.