Budget Minister Park Hong-geun Pledges Constant Dialogue With Private Fiscal Advisers

by Yujin Kim Posted : April 29, 2026, 15:36Updated : April 29, 2026, 15:36
Park Hong-geun, minister of the Ministry of Planning and Budget, chairs a luncheon meeting with private-sector members of the Fiscal Policy Advisory Council on April 29 in Seoul. (Ministry of Planning and Budget)
Park Hong-geun, minister of the Ministry of Planning and Budget, chairs a luncheon meeting with private-sector members of the Fiscal Policy Advisory Council on April 29 in Seoul. [Photo=Ministry of Planning and Budget]
Park Hong-geun, minister of the Ministry of Planning and Budget, said on the 29th that he will strengthen communication between the government and the private sector by building a standing communication system for the Fiscal Policy Advisory Council.

Park held a luncheon meeting that day with the council’s private-sector members to discuss policy issues broadly. He shared key points from a town hall meeting held the previous day and stressed the importance of government-private sector communication and cooperation.

“The Fiscal Policy Advisory Council has played a central role as a channel for government-private communication in key national fiscal decisions,” Park said, thanking members for their work and dedication, which he said helped improve the quality of fiscal policy.

He also called for more active engagement, saying that with policy conditions changing faster and more widely than ever, holding only two to four regular meetings a year could limit the government’s ability to reflect diverse policy needs raised in the field in a timely way. He said closer government-private communication is needed more than ever.

In response, Park said the council plans to move beyond a regular-meeting format and establish an always-on communication system. He added that after the luncheon, the ministry plans to open and operate a group chat to enable ongoing exchanges.

Private-sector members who attended freely discussed a range of views on overall fiscal policy, including institutional improvements and priority investment directions.

Park said the government will closely review issues raised at the meeting as well as suggestions later posted in the group chat and reflect them in major policies, including the 2027 budget proposal.
 



* This article has been translated by AI.