Korea to push for e-payment of taxes

Under the project, the government will also introduce by 2003 double entry bookkeeping and consolidated financial statements for effective management of the national budget, assets and liabilities, said Ministry spokesman Yoon Dae-hee.

The government has already begun the process to conduct Business Process Reengineering (BPR) to review the financial management systems of various government agencies in a prelude to establishing a system that will offer online real time information on the management of state coffers, Yoon said.

The government will also adopt Enterprise Resource Planning (ERP) and Enterprise Data Warehousing (EDW) to analyze the effectiveness, soundness and productivity of budget management, the spokesman said.

The ministry hopes that the project will allow the government to save up to 117.5b won (US$90.1m) on labor, paper and other expenses.