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March 19, 2024

Gov’t pledges to ease biz regulations

PUBLISHED : June 28, 2017 - 17:30

UPDATED : June 28, 2017 - 17:30

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[THE INVESTOR] Finance Minister Kim Dong-yeon on June 28 pledged to ease regulations for businesses, stressing their role in the new government’s push for economic reforms.

“We will move to demolish old regulations and practices,” he said in his opening remarks at an economic forum titled “New government’s economic policies and future of businesses” that was hosted by Herald Business, a vernacular sister business daily of The Investor, at a Seoul hotel.




The minister who took office early this month also doubles up as deputy prime minister for economic affairs.

He stressed the government’s three pillars of economic reforms -- people-focused investments, fair economy and innovative growth to spur the economic growth overall -- at a time when the Korean economy faces challenges from stagnant growth and wealth discrepancy.

“For the reform plans to succeed, the government and businesses need to work together,” he added that companies and entrepreneurs are the pioneers of innovative growth.

Along with the minister, around 300 government officials, business people and economic experts, including Herald Corp. Chairman Jungwook Hong and former Finance Minister Yoon Jeung-hyun, attended the business policy conference to discuss and suggest desirable directions for the Moon Jae-in government in carrying out its planned chaebol reforms.

By Park Ga-young (gypark@heraldcorp.com)

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