Ministry of Finance and Economy (South Korea)
Encyclopedia : M : MI : MIN : Ministry of Finance and Economy (South Korea)
The Ministry of Finance and Economy or MOFE oversees the financial policies of the South Korean government. It publishes a monthly report on the national economy, known as the "Green Book." [link] The current minister is Han Duck-soo, who also serves as Deputy Prime Minister.
The ministry oversees the free economic zones, including those located in Incheon, Busan-Jinhae, and Jeju. It also engages in other activities encouraging foreign investment.
MOFE has enforcement functions as well. It oversees the National Tax Tribunal and the Financial Intelligence Unit.
The ministry was formed in 1994 through the merger of the old Economic Planning Board (est. 1961) and Ministry of Finance (est. 1948). It is headquartered at the government complex in Gwacheon City, Gyeonggi province.
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