◆ What is integrated financial information?
The Ministry of Economy and Finance (MOEF) is disclosing fiscal information closely related to the public's lives through its "Open Fiscal" website (www.openfiscaldata.go.kr), an integrated fiscal information disclosure system that provides comprehensive fiscal and statistical information in one place. In addition to fiscal information managed by the MOEF (including expenditures and expenditures, revenue and income budgets), the system also provides comprehensive access to fiscal information managed by the Ministry of the Interior and Safety, Statistics Korea, and the National Tax Service. This system enhances public understanding and accessibility through a variety of visualizations tailored to the public's needs and perspectives. 794 fiscal support information categories, including health and medical care, employment, entrepreneurship, and education, are easily searchable and accessible through customized searches.
◆ What data will be opened?
Ministry of Strategy and Finance Open Data Information Data provider | open data | How it's provided |
|---|
Ministry of Strategy and Finance | Expenditure/Expenditure Budget and Settlement Status, Revenue/Income Budget and Settlement Status, National Bond Status, National Treasury Subsidy Budget Status by Sector, etc. | file data, Open API |
< Provided by the Ministry of Strategy and Finance's Financial Information Disclosure System >
◆ How can it be used?
The opening of fiscal information will allow citizens to resolve their questions about how their taxes are being used, and the government believes it will contribute to increased transparency and reliability in budget management. The financial industry anticipates that this opening will enable them to leverage public data, such as government bond status, to manage government bond funds, compare deposit and loan interest rates, and launch new financial businesses related to insurance. In the construction industry, information on the Build-Transfer-Lease (BTL) ceiling for lease-type private investment projects is expected to increase project profitability, while financial information related to revenue and income is expected to aid domestic companies and private investors in making decisions regarding overseas expansion. Furthermore, the opening of fiscal indicators and trends is expected to have significant economic ripple effects, resulting in the creation of new service businesses, such as the development of a financial mobile app that facilitates access to economic indicators by utilizing them as risk measurement and analysis data.