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 establish a special deregulation committee to address regulations impeding startups and venture businesses in emerging industries, Prime Minister Han Seong-sook announced on Wednesday. The committee, to be created under the presidential Regulatory Rationalization Committee, will focus exclusively on regulations affecting startups and venture companies.
Han emphasized that the committee will handle regulations for emerging industries and new technologies separately to expedite improvements. It will function as an exclusive organization dedicated solely to startup and venture business regulations. Additionally, Han highlighted the crucial role that small and medium-sized enterprises should play in the three megaprojects initiative, which aims for national transformation through semiconductors, physical AI, and AI data centers.
The government expects to see the construction of two memory chip fabrication plants by Samsung Electronics and two fabrication plants by SK hynix in the southwestern city of Gwangju as part of this initiative.
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.
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