Evaluation and Policy Considerations of the Welfare Finance

Abstract

In this study, through an in-depth analysis of the current status of changes in the demographic structure and the welfare finance operation at home and abroad, we examined the current issues and major improvement tasks of welfare finance in Korea, which has been expanding compressively since the foreign exchange crisis. As the population ages, central government, local governments, and social insurance are expected to face increasing difficulties to manage their financesSo it is necessary to conduct a general review of restructuring of expenditures in the direction of strengtheningwelfare functions and improving effectiveness, securing revenue to meet fiscal needs, and dividing the affairs and the resources between the central government and the local governments.