'Controversy Over Failed Tax Revenue Forecast' Former Tax Office Chief Kim Taeju... Saemaeul Geumgo Central Association Headquarters Nest (Comprehensive)

Kim Tae-joo, former Director of the Tax Policy Bureau at the Ministry of Strategy and Finance. [Photo by Yonhap News]

[Asia Economy Reporters Byungseon Gong, Seungseop Song] Former Taxation Office Chief Kim Taeju, who resigned on the 27th of last month, has been appointed as the Chairman of the Supervisory Committee of the Saemaeul Geumgo Central Association.

According to the Saemaeul Geumgo Central Association on the 28th, former Taxation Office Chief Kim has agreed to take the position of Chairman of the Supervisory Committee. This appointment was approved at the 73rd Delegate Meeting held on the 25th at the Cheonan MG Talent Development Center.

Former Taxation Office Chief Kim resigned on the 27th of last month, taking responsibility for the failure to accurately forecast tax revenue, as additional tax revenue reached 30 trillion won compared to the second supplementary budget last year.

According to current law, when a public official of grade 4 or higher retires, unless they undergo employment screening by the Public Officials Ethics Committee, they cannot be employed for three years in departments or institutions related to the work they performed in the five years prior to retirement. However, the Saemaeul Geumgo Central Association is a cooperative and is not subject to the Public Officials Ethics Act.

There have been widespread rumors in the financial sector that former Taxation Office Chief Kim would move to the Saemaeul Geumgo Central Association. A Ministry of Economy and Finance official said, "I heard two weeks ago that he was appointed at the director level," adding, "Everyone internally knew about it; it just hadn’t been reported in the news."

There are also criticisms that this is a kind of reward appointment. Another financial sector official said, "Usually, officials from the Ministry of Economy and Finance do not go to the Saemaeul Geumgo Central Association," and added, "Isn’t it more like he went there as a refuge?"

Kim Taeju’s term as the new Chairman of the Supervisory Committee will be from the 15th of next month until March 14, 2025, lasting three years.

This content was produced with the assistance of AI translation services.