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Korean experience of financial management information system : Construction, operation, and results

Related Document
Frame of Image cial Management Information System: K Construction, Operation, and Results
Supervised by	 Prepared by	 Author	
Ministry of Strategy and Finance (MOSF), Republic of Korea Yonsei University 	 	 euk J. Bae, Yonsei University, Professor D Kyeong-Hoon Kang, Dongguk University, Professor Woong Heo, Dilloit Anjin, Director Yong Lak Choi, Soongsil University, Professor
Advisory
Hyang Woo Jeong, Ministry of Strategy and Finance, Fiscal Information System Division, Director
Research Management	 Supported by	
KDI School of Public Policy and Management 	 Ministry of Strategy and Finance (MOSF), Republic of Korea
Government Publications Registration Number 11-7003625-000025-01 ISBN 979-11-5545-041-3 94320 ISBN 979-11-5545-032-1 [SET 42] Copyright © 2013 by Ministry of Strategy and Finance, Republic of Korea
Government Publications Registration Number 11-7003625-000025-01
Knowledge Sharing Program
2012 Modularization of Korea’s Development Experience
Korean Experience of Financial Management Information System: Construction, Operation, and Results
Preface
The study of Korea’s economic and social transformation offers a unique opportunity to better understand the factors that drive development. Within one generation, Korea has transformed itself from a poor agrarian society to a modern industrial nation, a feat never seen before. What makes Korea’s experience so unique is that its rapid economic development was relatively broad-based, meaning that the fruits of Korea’s rapid growth were sha


Full Text
Title Korean experience of financial management information system
Similar Titles
Sub Title

Construction, operation, and results

Project Category Development Cases
Material Type Reports
Author(English)

Bae, Deuk J.; Kang, Kyeong-Hoon; Heo, Woong; Choi, Yong Lak

Publisher

Seoul:KDI School of Public Policy and Management

Date 2013
Project Development Cases
Series Title; No Knowledge Sharing Program: KSP Modularization
ISBN 979-11-5545-041-3 94320; 979-11-5545-032-1 [SET 42]
Pages 222
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Financial Policy
Holding KDI School of Public Policy and Management
Supervisor KDI School of Public Policy and Management
Organizer Ministry of Strategy and Finance(Republic of Korea); Yonsei University
Sponsor Ministry of Strategy and Finance(Republic of Korea)
Project Term 2012-01-01 ~ 2012-12-31

Abstract

1. Introduction
Like many other countries, Korea has recently reformed its Public Expenditure Management System (PEMS). But the ways the Korean government implement these reforms have some unique features. Korea took a non-evolutionary approach, the so-called big-bang approach, instituting radical changes from practices and processes it had been using for over 50 years, all in a relatively short period of time.
Korea adopted new budgeting and treasury management systems. Korea also changed its accounting from a cash-based system to an accrual-based one. It has also developed a new integrated financial information management system, which it is using to this day. Budget is now formulated via a top-down process, in accordance with five-year forward estimates. Execution is possible at the speed of light, via KFMIS, an electronic system. Treasury management has dramatically improved its efficiency and transparency than before. (The rest omitted)

User Note

Government Publications Registration Number 11-7003625-000025-01