Seoul Mayor Oh Se-hoon said, "Korea must inject vitality into the private economy to overcome low growth risks," and noted, "We will remove regulations so that corporations have the motivation to work."
Mayor Oh said this during an emergency economic meeting held at Seoul City Hall in Jung-gu, Seoul on the morning of the 19th. He said, "I have instructed the executives to work with the determination to cut regulations in half" and added, "For public officials who proactively engage in deregulation, we will expand promotions and rewards."
He also stated, "Representatives from construction associations and corporate executives are voicing concerns about high regulatory barriers, such as difficulties in the urban planning and construction review process and increased construction costs due to project delays," adding, "We will form a task force (TF) with the construction industry, experts, and research institutes to thoroughly examine complex reviews and various licensing procedures."
The city of Seoul plans to convert the regular executive meetings presided over by the mayor into deregulation meetings and hold them monthly. During joint meetings with the first and second vice mayors, they will adjust differing opinions on deregulation, and at operational meetings led by the General Affairs Office, they will identify regulations that need to be abolished.