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[2019/20 KSP Public Finance Management System for Philippines] Final Reporting Workshop
Title [2019/20 KSP Public Finance Management System for Philippines] Final Reporting Workshop
Date 2020-11-30

The Korea Institute for Development Strategy (KDS, President Seung-Hun Chun) held the Final Reporting Workshop online at the Plaza Hotel in Seoul on October 15, 2020 as a part of its implementation of the “2019/20 Knowledge Sharing Program (KSP) Ⅱ Policy Consultation on Public Finance Management System for Philippines". The KDS team (Managing Director of Sustainable Growth Group Hongmin Chun, Economic Growth Team Leader WookBeom Park, Program Officer Sanghyun Lee and Sungmin Kim, and Researcher Seungmin Yum), and researchers (Professor Taihyuk Kang of Hankyong National University and Professor Yonglak Choi of Soongsil University) presented the results of the research and final policy recommendations to participants of the Philippine Department of Budget and Management (DBM).

From the Launching Seminar on May 8 to the Final Report Workshop on Oct 15, the project has been successfully completed through dedicated efforts of the researchers and close communication and cooperation from local institutions and experts even under difficult situations where business trips and invitations to Korea were not possible due to COVID-19 situation. The KDS team and researchers have conducted close cooperation with the co-authors and local experts in the Philippines, replacing the on-site investigation, and drawn various recommendations for the establishment of an integrated financial management system in the Philippines.

The Final Reporting Workshop was held as a non-face-to-face online meeting due to the COVID-19 situation in the Philippines and Korea. Starting with the opening address of Senior Advisor Yong Hi Lee, a former Plenipotentiary Minster of Permanent Delegation of the Republic of Korea to the OECD, the research team's research announcement about "Policy recommendations through the analysis of the Philippine government's financial information management system and the Korean financial information management system dBrain" and "Measures to improve the operation of the current budget financial management system" followed. In addition, on behalf of the invitation to Korea, KDS released a video for the policy practitioners in collaboration with the Korea Public Finance Information Service (KPFIS), and received various complementary comments from participants from both Korea and the Philippines. Through the closing remarks, Assistant Secretary and Chief Information Officer Clarito Alejandro Magsino of the Philippine Department of Budget and Management (DBM) expressed his deep gratitude to the Korean stakeholders, including the KDS team and researchers, for their meaningful results in conducting the research despite difficult circumstances. He also assured that this KSP research would be of great help to the Philippine government's mid- to long-term policy direction, which would deepen the friendship and cooperation between the two countries.

Through this KSP research, we hope that it will contribute to the establishment of an integrated financial information management system at the pan-government level in the future and the improvement of the current budget financial management system, and will greatly help secure financial soundness and transparency in the Philippines. Furthermore, based on the strong cooperative relationship between Korea and the Philippines that wisely overcame the difficulties of the COVID-19 situation, we hope to contribute to the discovery of additional related projects and the establishment of future-oriented relations between the two countries.

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