Lee to chair Regulatory Rationalization Committee on 23rd; talks to focus on easing rules for high-tech industries and startups

[Financial News] President Lee Jae Myung will chair the second plenary meeting of the Regulatory Rationalization Committee at Cheong Wa Dae on the 23rd. The meeting is set to discuss regulatory rationalization measures to foster high-tech industries with a commanding technological lead, promote locally led growth and usher in an era of national entrepreneurship.
Cheong Wa Dae announced the meeting plans on the 20th. Around 100 people in total, including private-sector, government and Cheong Wa Dae officials, will attend the meeting, the second since the committee's first plenary meeting this past April.
On the private-sector side, in addition to three vice chairs and 25 committee members, about 40 corporate representatives and experts connected to the agenda will be invited to share on-the-ground difficulties and suggestions. The prime minister and ministers and vice ministers from relevant ministries will attend on behalf of the government, while Cheong Wa Dae will be represented by the chief of staff, the policy chief and the senior secretary for economic growth, among others.
The meeting will be divided into two broad sessions: regulatory rationalization for high-tech industries and regional growth, and startup-related regulatory rationalization. After the president's opening remarks, ministries will present their respective agenda items, followed by on-the-ground suggestions, mainly from private-sector attendees, and an open discussion.
In the first session, the Office for Government Policy Coordination will report on the “Direction for Regulatory Rationalization to Support Mega-Projects and Growth Engines in the Five Poles and Three Special Zones.” Relevant ministries will then present measures to resolve regulatory difficulties raised in industries related to key growth engines, including robotics, semiconductors, AI data centers, autonomous vehicles and biotechnology, and discuss them with private companies and experts.
In the startup-related session, the Ministry of SMEs and Startups will present “Measures to Rationalize Regulations for Startup Companies.” The Office for Government Policy Coordination, the Ministry of Land, Infrastructure and Transport, and the Ministry of Climate, Energy and Environment will report on “Plans to Redesign Administrative Documents for Startup Companies and Key Cases.” Participants will then discuss how to overhaul unreasonable regulations related to startups.
Meanwhile, at the Regulatory Rationalization Committee's first plenary meeting held this past April 15, President Lee said, “Let’s rationalize regulations, too, as we work toward a rational society,” adding, “I came to think that it was necessary to clear away unnecessary or inefficient regulations.”
At the time, the meeting discussed plans to establish “mega-special zones” in robotics, renewable energy, biotechnology and AI-powered autonomous vehicles. The aim was to address the limitations of existing small-scale, individual regulatory exemptions and create a business environment desired by companies and regions.
[email protected] Seong Seok-woo Reporter