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| Prime Minister Han Duck-soo points at a panel as he announces the government's policy pack of reforming regulations during a press conference at the Government Complex in Sejong, Tuesday. Yonhap |
By Nam Hyun-woo
The government will set up a tribunal reviewing regulations affecting businesses, in a follow-up measure to President Yoon Suk-yeol's deregulation pledge to resuscitate the country's economic dynamism.
Along with the tribunal program, the government will also launch a "strategic meeting on reforming regulations" which will be presided over by the president to facilitate the decision-making process, according to Prime Minister Han Duck-soo, Tuesday.
"Through powerful and multidirectional efforts to reform regulations, the government will nurture a free market economy in which the private sector's freedom and creativity can be realized to its full extent," Han said during a press conference at the Government Complex in Sejong.
"Through this, the government will spearhead the country's economic recovery and sustainable growth."
The highlight of the policies announced Tuesday was the new program of a regulation tribunal.
Approximately 100 experts from private sectors will review whether a certain regulation is appropriate or not based on international standards and opinions from stakeholders and related government agencies.
If the agencies fail to prove the necessity and effectiveness of the regulation, the experts will demand the government either improve or abolish it. An official at the presidential office said the government can abolish a certain regulation by either promulgating presidential decrees or government agencies tabling law revisions at the National Assembly.
If the government does not accept the tribunal's judgments, the existing presidential Regulatory Reform Committee will advise their acceptance. If this is not enough, the presidential strategic meeting on reforming regulations, which will be chaired by the president himself, will address the conflict, Han said.
"When it comes to important regulatory matters, the president himself will preside over the meeting," Han said. "The government will make decisions promptly and be more powerful in pursuing policy goals."
Han also said the government will review all regulations related to economic activities and job creation every three years, so that its policy drive can be sustainable.
The announcements came a day after Yoon and Han had their first official weekly meeting on Monday. During the meeting, they agreed that "reforming archaic and outdated regulations is equal to the country's growth," with Yoon taking interest in the regulation tribunal program, according to the presidential office.
"President Yoon has expressed his strong commitment to reforming regulations," Han said during Tuesday's press conference. "He said, 'We should resolve this matter in the next five years,' so I believe all ministries will spare no efforts for deregulation."
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| President Yoon Suk-yeol, right, speaks to Prime Minister Han Duck-soo during their first weekly meeting at the presidential office in Yongsan District, Seoul, Monday. Joint Press Corps |
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