◆ What is Integrated Financial Information?
The Ministry of Economy and Finance is opening up fiscal information closely related to people's daily lives through the 'Open Fiscal' webpage (www.openfiscaldata.go.kr) and the Public Data Portal (www.data.go.kr), which are integrated fiscal information disclosure systems that gather and provide fiscal and statistical information in a clear, centralized manner. In addition to fiscal information managed by the Ministry of Economy and Finance (such as expenditures and revenue budget formulations), it is also comprehensively opening up fiscal information managed by the Ministry of the Interior and Safety, Statistics Korea, and the National Tax Service. Understanding and accessibility to fiscal matters have been enhanced through various visualization materials tailored to the public's perspective and needs, and users can easily search and utilize 794 types of financial support information closely related to daily life—including health and medical care, employment, startups, and education—through customized search functions.
◆ What kind of data will be opened up?
Ministry of Economy and Finance Open Data Information Data provider | Open data | Provision method |
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Ministry of Economy and Finance | Status of expenditure/expenditure budget and settlement, status of revenue/income budget and settlement, status of national bonds, budget status of state subsidies by sector, etc. | file data, Open API |
< Provided by the Ministry of Economy and Finance's Fiscal Information Disclosure System >
◆ How can it be utilized?
The opening of fiscal information is expected to resolve citizens' curiosity regarding tax expenditures and contribute to enhancing the transparency and reliability of the government's budget management. With the opening of fiscal information, the financial industry anticipates that utilizing public data, such as the status of government bonds, will enable the management of government bond funds, comparison of deposit and loan interest rates, and the development of new financial businesses related to insurance. For the construction industry, information on Build-Transfer-Lease (BTL) limits is expected to increase project profitability, while fiscal data regarding tax revenue and income is expected to aid domestic companies and private investors in making decisions regarding overseas expansion. Furthermore, significant economic ripple effects are anticipated through the creation of new service businesses, such as the development of fiscal mobile apps that allow users to easily check economic indicators, by utilizing fiscal indicators and trends as data for risk measurement and analysis.