President Lee chairs first plenary session of Regulatory Rationalization Committee: "Smart regulation for a great economic leap"

According to The Financial News, President Lee Jae Myung is accelerating efforts to lay the groundwork for a great economic leap forward through regulatory rationalization.
On the 15th, President Lee will preside over the first plenary session of the Regulatory Rationalization Committee at Cheong Wa Dae.
The Regulatory Rationalization Committee was originally the Regulatory Reform Committee under the Office of the Prime Minister of South Korea. Emphasizing the urgency of regulatory rationalization, President Lee upgraded it in February so that the president now serves as chair. The three vice chairs hold prime-minister-level rank and have been drawn evenly from business, politics, and academia. Before the meeting, appointment letters will be presented to the three vice chairs, Namkoong Beom, Park Yong-jin, and Lee Byung-tae.
This will be the first plenary session since the Regulatory Reform Committee was reorganized into the Regulatory Rationalization Committee after 28 years. Cheong Wa Dae explains that regulatory rationalization is a concept President Lee has long emphasized. It does not mean simply easing regulations, but rather creating the foundation for a great economic leap by pursuing "smart regulation" that preserves what is necessary and removes what is not.
The meeting is expected to present a blueprint for regulatory reform under the Lee Jae-myung administration. Around 60 people from the private sector, the government, the ruling party, and Cheong Wa Dae are scheduled to attend.
From the private sector, the three vice chairs and 26 civilian members will take part, while the government will be represented by 15 officials, including the Prime Minister of South Korea.
From the National Assembly, Han Byung-do, parliamentary leader of the Democratic Party of Korea, and Han Jeoung-ae, Policy Committee Chairperson, will attend. Kang Hoon-sik, Presidential Chief of Staff, Kim Yong-beom, Chief Presidential Secretary for Policy, and other senior Cheong Wa Dae officials will also be present.

cjk@fnnews.com Reporter Choi Jong-geun Reporter