Korean official to join OECD fiscal affairs committee board

Ko Kwang-hyo

By Lee Kyung-min

The Ministry of Economy and Finance said Monday that the Organization for Economic Cooperation and Development (OECD) had appointed a senior ministry official Ko Kwang-hyo as an advisory board member of its Committee on Fiscal Affairs (CFA).

Ko, a former National Tax Service official with extensive policy experience in international taxation and tax administration, is currently the director general for the Income and Corporate Tax Bureau at the ministry.

From Jan. 1, He will start his three-year term at the CFA, the leading global body for setting international tax standards.

The appointment coincides with an ongoing discussion over the so-called “digital tax,” which Ko has said is one of the most significant issues among OECD members.

The issue has been brought to the fore as many global tech heavyweights have long managed to pay only a fraction of their profits as taxes in countries they operate in, largely by routing them to lower-tax jurisdictions where their headquarters are based.

“I consider the appointment an honor and an opportunity and will try hard to make Korea become a relevant party fully involved in the decision-making process at the CFA using my past experience in international taxation and tax administration,” Ko said.

Korea, in his view, is in a unique position to share multiple, different views representing the interests of all parties involved in “digital tax,” an issue that concerns not only global tech titans operating here but also top Korean conglomerates with considerable overseas businesses including Samsung and Hyundai.

“Korea is one of the ten most economically advanced nations in a world with many global players. Our perspectives gained through unique circumstances will help contribute to constructive discussion and policy-making at the OECD,” Ko said.