About 100 domestic and foreign policy practitioners expected to attend

Conference to address intergovernmental fiscal transfer reform

Blockchain-based treasury system also on the agenda

The KDI School of Public Policy and Management and the World Bank will discuss major fiscal policy challenges — from intergovernmental fiscal transfer systems to digital asset taxation and blockchain-based treasury management.

The KDI School announced Wednesday that it is co-hosting the "4th Joint Fiscal Policy Conference" with the World Bank through Friday at Lincoln Hall on the KDI School campus in Sejong.

The Korea Development Institute in Bangok-dong, Sejong [Newsis]
The Korea Development Institute in Bangok-dong, Sejong [Newsis]

The conference is being held under the theme "Foundations of Fiscal Policy: From Intergovernmental Fiscal Systems to the Digital Economy." About 100 government officials, representatives from related institutions and policy practitioners from various countries are expected to attend, with discussions focused on improving the efficiency and transparency of fiscal management.

Wednesday's opening session will focus on the design and operation of fiscal transfer systems between central and local governments. Participants will examine local government fiscal sustainability, revenue-raising frameworks and measures to ensure fiscal soundness, comparing reform experiences from Brazil, India and Germany.

Korea's fiscal transfer system and areas for improvement will also be on the agenda. The session will review key issues in the current regime, centering on local education grants and tax expenditures, and explore directions for reform.

Thursday's session will assess how advances in digital technology are reshaping fiscal management and what policy responses are needed. Participants will examine the concepts and policy issues surrounding major digital assets — including cryptocurrencies, stablecoins and CBDC — and share regulatory experiences from the United States and South Korea.

Using blockchain technology to track fiscal expenditures and improve management efficiency is also a key agenda item. The conference will introduce Korea's blockchain-based deposit token system for treasury execution and the World Bank's "FundChain" platform, which enables end-to-end tracking of development project funds.

The conference will also address how to build a digital asset taxation framework, covering the classification of digital assets, applicable tax methods and policy enforcement challenges arising from cross-border transactions.

On the final day, Friday, a knowledge-sharing and capacity-building program will be held for policy practitioners from developing countries. Sessions will introduce the World Bank's research findings and assessment tools for analyzing the financial soundness and potential fiscal risks of state-owned enterprises. Procurement efficiency evaluation using public procurement data and budget-saving strategies will also be covered.

Kim Jun-kyung, president of the KDI School, said that amid digital transformation posing new challenges across fiscal management, "streamlining intergovernmental fiscal systems, strengthening fiscal transparency through blockchain technology, and developing policy responses to digital assets are the core tasks for sustainable public finance."


y2k@heraldcorp.com