South Korean Prime Minister Calls for Faster Regulatory Reforms

South Korean Prime Minister Han Seung-sook announced on November 12 that she would discuss eight regulatory issues raised by businesses in the Chungcheong region and provide timelines for potential improvements. She emphasized the need to accelerate regulatory reforms to ensure tangible changes in the field.

During a meeting at the Daejeon Chamber of Commerce, Han stated, "Regulations must be processed and resolved more quickly to adapt to rapidly changing circumstances."

The meeting included Daejeon Mayor Heo Tae-jeong, Daejeon Chamber of Commerce Chairman Jeong Tae-hee, and Kim Jeong-il, Vice Chairman of the Korea Chamber of Commerce and Industry, along with 18 representatives from local businesses and officials from various ministries, including the Ministry of Science and ICT, Ministry of Environment, Ministry of Trade, Industry and Energy, Ministry of Land, Infrastructure and Transport, and the Ministry of Food and Drug Safety.

Han praised the Chungcheong region for its advanced science and technology, smart administration in Sejong, and industries such as semiconductors and displays in South Chungcheong, as well as secondary batteries and biotechnology in North Chungcheong. She noted, "The Chungcheong region has a robust industrial base at the heart of South Korea."

She also mentioned that the government is continuously reviewing how far to relax or tighten regulations as part of its regulatory reform efforts and is pushing for the enactment of the Super Mega Special Zone Act to support the development of local high-tech industries and promote regional-led growth.

Han pledged to support local business investments and job creation through financial, fiscal, and tax incentives. She stressed, "The government is committed to driving regional growth and balanced development with strong determination."

Regarding the eight regulatory issues discussed, she promised to provide specific timelines for resolution and to clarify the items and content of ongoing regulatory improvements. "We will listen to feedback from the field and ensure the government acts swiftly," she said.

Han cited the groundbreaking ceremony for the Chungcheong region mega project held at Samsung Electronics' Onyang Campus as an example of successful regulatory reform. She remarked, "Everyone was surprised at how quickly the groundbreaking was possible," and expressed her intention to connect the activities of the Regulatory Reform Committee to tangible outcomes that businesses can feel on the ground.