Korea Reappointed as Director of OECD Fiscal Affairs Committee

[Asia Economy Sejong=Reporter Lee Jun-hyung] South Korea has renewed its term as a board member of the OECD Committee on Fiscal Affairs (CFA).

The Ministry of Economy and Finance announced on the 22nd that Lee Yong-joo, Director of Income and Corporate Tax Policy at the Ministry, was appointed on the 19th as a board member of the OECD Committee on Fiscal Affairs, which handles tax policy and administrative issues within the OECD. With this, South Korea has renewed its position as a board member of the Committee. Previously, Ko Gwang-hyo, Director of the Tax System Office at the Ministry, served as a board member from 2020 until this year. Director Lee's term as a board member will run from next year until 2025.

The OECD Committee on Fiscal Affairs board consists of a total of 12 members. The board coordinates the direction of practical work related to tax policy and administration within the OECD, as well as budget allocation. Board members also qualify as members of the Inclusive Framework (IF) Steering Committee, which leads negotiations on the digital tax.

The government expects to lead international tax discussions within the OECD through the renewal of the board membership. A Ministry of Economy and Finance official explained, "Considering the existing country rotation customs, South Korea's renewal of the board membership is unprecedented and exceptional," adding, "This is the result of South Korea's active participation in international tax norm discussions, which has elevated its international status."

Meanwhile, the government plans to strengthen the linkage between domestic tax systems and international taxation by establishing a new National Tax and Tax Policy Office on the 27th of this month. Additionally, the government intends to continuously expand South Korea's role in international tax reform discussions and actively reflect domestic opinions in international tax norms.

Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho is presiding over the Emergency Economic Ministers' Meeting held on the 14th of this month at the Government Seoul Office in Jongno-gu, Seoul. Photo by Kim Hyun-min kimhyun81@

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