Gov't to establish deregulation committee for venture, startup businesses: PM
The government will soon establish a deregulation committee dedicated to improving regulations hindering startups in emerging industries, Prime Minister Han Seong-sook said Wednesday. The envisioned committee, to be set up under the presidential Regulatory Rationalization Committee, will deal exclusively with regulations hampering startups and venture businesses, Han said during a public…
The government plans to create a deregulation committee focused on improving regulations that hinder startups and venture businesses in emerging industries, announced Prime Minister Han Seong-sook on Wednesday. The new committee, to be formed under the presidential Regulatory Rationalization Committee, will specifically address regulations affecting startups and venture businesses, as Han explained during a public discussion on venture and startup enterprises.
The committee will handle regulations related to emerging industries and new technologies separately from other regulations to expedite improvements, according to Han. It will function as a dedicated organization solely for startup and venture business regulations. Han also emphasized the crucial role that small and medium-sized enterprises should play in the three megaprojects initiative, which aims to drive national transformation through semiconductor technology, physical AI, and AI data centers.
The government foresees the establishment of two memory chip fabrication plants by Samsung Electronics and two fabrication plants by SK hynix in the southwestern city of Gwangju.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
