Tip:
Highlight text to annotate it
X
The Korean government is wasting no time in its push... to cut out the red tape it says
is slowing down economic growth. The deputy prime minister convened a meeting
this morning,... and picked out dozens of regulations that will either be amended or
abolished completely in the coming months. Our Kim Ji-yeon reports. The government is
speeding up its deregulatory reforms. Finance Minister Hyun Oh-seok presided over
the first ministerial-level meeting on the matter Thursday... to inspect, evaluate, and
come up with follow-up measures to President Park Geun-hye's Three-year Economic Innovation
plan. They started with the recommendations proposed
during working-level talks held earlier this week, and pinpointed 52 regulations that could
be improved,... including one that would ultimately allow for the operation of food trucks.
Hyun said 41 of the regulations can be addressed immediately, with 27 of them to be amended
in the first half of this year.
"Regulations that could be amended by administrative or in-house measures should be completed and
ready to take effect by April. Regulations that require legislative amendments,... let's
get them done by the end of June."
For the operation of food trucks, the government will allow trucks with a loading capacity
of at least 0-point-5-square-meters. The food trucks will be able to do business
in amusement and theme parks in the latter half of this year.
The ministry says it is working with the transport ministry to cut regulations on the tuning
of automobiles as well, so long as it does not affect passenger safety.
The aim there is to promote the use of vehicles for leisure purposes such as camping cars
and caravans... and boost the country's auto components industry.
A task force will also be launched to find ways to promote the country's service sector,...
particularly in the finance, education, medical, broadcasting and tourism areas.
The Korea Society for Regulatory Studies estimates that around 200-thousand new jobs will be
created through deregulation in the medical and education sectors alone.
The ministy is also going to be gathering opinions and recommendations from the public
on economic innovation through a portal site. Kim Ji-yeon, Arirang News.