Asian public finance leaders gather in Seoul to advance AI-driven governance

Deputy Minister of Finance Ta Anh Tuan, head of Vietnam’s Ministry of Finance delegation, attended PEMNA 2026

The event was chaired and opened by Hong Keun Park, Minister of Economy and Finance of South Korea, with more than 150 delegates from 12 countries and major international organisations, including the World Bank, the EU Delegation, and UNICEF.

In his opening remarks, Minister Hong Keun Park highlighted the growing importance of AI in fiscal management. He noted that AI applications improve budgetary efficiency and enhance transparency, enabling citizens to access public financial information more easily and monitor government activities.

Quoting naturalist Charles Darwin, “It is not the strongest or the most intelligent that survives, but the one most adaptable to change,” he stressed the urgent need for countries to adapt, accelerate digital transformation, and integrate AI into public financial management.

In the digital era, while collecting and processing fiscal data has become more convenient, no country can develop in isolation, he said. Strengthening international cooperation is therefore essential.

The conference served as a platform for countries to share both successes and lessons learned, enhancing their capacity to adapt to technological change, particularly AI, which is a key driver of sustainable development now and in the future.

In addition to the plenary session, the Vietnamese delegation will participate in parallel sessions across three Communities of Practice related to budgets management, the treasury, and revenue systems.

Regarding the event's future direction, Minister Hong Keun Park noted that since its establishment in 2012, the conference has contributed significantly to reforms, innovation, and trust-building in public financial management across countries.

He expressed confidence that the conference would continue to strengthen its position as a platform for cooperation in the Asia-Pacific region and beyond.

Opening session of PEMNA 2026

Lalita M. Moorty, director for East Asia and the Pacific at the World Bank, pointed out that shrinking global fiscal space is placing increasing pressure on governments to maintain budget discipline. In this context, building transparent public financial systems and effectively applying AI can improve control, optimise expenditure, and enhance revenue collection. The World Bank is actively supporting countries in the region in advancing this transition.

Walter Van Hattum, head of Trade and Economic Section at the EU Delegation to South Korea, noted that the EU was adapting to become more agile in an increasingly unpredictable global environment. The EU aims to expand cooperation with regional partners, encouraging digital transformation and modernising public financial management through AI and cloud computing.

Both World Bank and EU representatives underscored that innovation must be safe and inclusive, ensuring that no country or group is left behind. They also recognised the conference's important role in convening plenary sessions that enable countries to exchange experiences.

Yung Lee, president of the Korea Institute of Public Finance, explained that the conference represented not only a milestone but also a strong commitment by participating countries to improving public financial governance. Digital transformation, he noted, goes beyond technology, encompassing institutional reform and human resource development.

MoF delegation at PEMNA 2026

The conference also featured a dedicated discussion session on “Leveraging digital transformation for smarter public finance: Opportunities, risks, and early lessons.” Representatives from the Philippines, Cambodia, Timor-Leste, and South Korea shared experiences in applying AI in public financial management, particularly in building and governing big data systems.

The Philippines introduced its Budget and Treasury Management System, which enables real-time financial management and integrates data across ministries. Cambodia is adopting a platform-based model and developing a digital architecture to avoid system fragmentation. Timor-Leste is focusing on four strategic pillars: legal framework, systems, human resources, and infrastructure, while strengthening data connectivity from the central to the local level.

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