Prime Minister Han Sung-sook: "New Startup and Venture Regulation Innovation Committee to Speed Up Regulatory Reform"

Prime Minister Han Sung-sook stated today (the 12th) regarding the three major mega-projects, "It is a crucially important task that is transforming our nation's status from a country chasing great upheavals to one leading them, and we must all pool our strengths together."

Prime Minister Han made the remarks during her opening statement at the grand debate on regulatory innovation for SMEs, ventures, and startups, held this afternoon at the Korea Federation of SMEs in Seoul.

She explained, "For the mega-projects to succeed, SMEs must also play a vital role as part of the ecosystem, creating a virtuous cycle where investment outcomes lead to growth for everyone. We are here to listen to your opinions and devise measures on how SMEs and large corporations can build cooperative relationships, work together for balanced regional development, and utilize the capital market."

Prime Minister Han also announced, "A Startup and Venture Regulation Innovation Committee will soon be established under the Regulation Rationalization Committee to support startup and venture companies in new industries and technologies. This committee will separately handle regulations concerning startups and ventures to improve them with a sense of speed."

She continued, "When improvements are needed in new industries and technologies and conflicting interests arise, it will serve as a dedicated organization for startup and venture regulations by listing regulations that act as stumbling blocks to starting a business and getting a second chance, and prioritizing which ones to solve first."

She further suggested, "While macroeconomic indicators show that economic growth rates are improving, concerns over structural low growth are growing, with the potential growth rate lingering in the 1% range, and it is true that the reality on the ground for SMEs is even more difficult. We need to discuss which areas we should innovatively change to build a South Korea where everyone grows."

Emphasizing once again the necessity of regulatory rationalization, Prime Minister Han also noted, "We cannot eliminate every single regulation just because people ask for it. Areas related to life and safety must be strengthened so that our society moves toward one that values human lives."

(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.