PM Lee pushes for innovative growth through deregulation in IT sector
- 5 years ago
이총리, 신기술 사업화 통해 규제혁신 추진
South Korea continues its drive to deregulate the economy... in line with the Moon administration's goal of innovative growth.
Prime Minister Lee Nak-yon proposed three approaches to deregulation.
Cha Sang-mi outlines what they are.
South Korea is actively pushing to deregulate in order to help new industries prosper.
Prime Minister Lee Nak-yon chaired a meeting Wednesday about deregulation at the state-funded Electronics and Telecommunications Research Institute in Daejeon.
The participants, including the trade and science ministers, discussed ways to drive innovative growth by commercializing new technologies.
Examples include allowing the use of GPS for taxi meters... and abolishing overseas remittance standards for fintech companies.
Normally, taxi meter relies on a sensor attached to the car's transmission to calculate the distance driven, but when the rules are changed, cabs will charge using smartphone GPS.
This will prevent rip-offs and make it more convenient for the drivers as well.
Overall, for deregulation, the Prime Minister suggested three main approaches:
First, a change from positive to negative rule-making.
That's to say that in the past the government has laid out the things that are allowed, and restricted everything else. But now it would specifically ban some things and permit the others.
Next comes preemptive deregulation.
The PM said Korea needs to get rid of regulations ahead of time when problems are forseen,... especially in the tech sector -- for instance, predicting the problems and challenges of putting self-driving cars on the streets.
Finally, he mentioned tailoring regulations to actual needs on the ground -- for instance, showing some leniency when a company wants to build a factory but the environmental rules wouldn't normally allow it.
The PM... noted that nearly 16-hundred regulations have been removed since the current administration took office, and stressed that cutting red tape in the tech realm will be what helps local businesses go global.
Cha Sang-mi, Arirang News.
South Korea continues its drive to deregulate the economy... in line with the Moon administration's goal of innovative growth.
Prime Minister Lee Nak-yon proposed three approaches to deregulation.
Cha Sang-mi outlines what they are.
South Korea is actively pushing to deregulate in order to help new industries prosper.
Prime Minister Lee Nak-yon chaired a meeting Wednesday about deregulation at the state-funded Electronics and Telecommunications Research Institute in Daejeon.
The participants, including the trade and science ministers, discussed ways to drive innovative growth by commercializing new technologies.
Examples include allowing the use of GPS for taxi meters... and abolishing overseas remittance standards for fintech companies.
Normally, taxi meter relies on a sensor attached to the car's transmission to calculate the distance driven, but when the rules are changed, cabs will charge using smartphone GPS.
This will prevent rip-offs and make it more convenient for the drivers as well.
Overall, for deregulation, the Prime Minister suggested three main approaches:
First, a change from positive to negative rule-making.
That's to say that in the past the government has laid out the things that are allowed, and restricted everything else. But now it would specifically ban some things and permit the others.
Next comes preemptive deregulation.
The PM said Korea needs to get rid of regulations ahead of time when problems are forseen,... especially in the tech sector -- for instance, predicting the problems and challenges of putting self-driving cars on the streets.
Finally, he mentioned tailoring regulations to actual needs on the ground -- for instance, showing some leniency when a company wants to build a factory but the environmental rules wouldn't normally allow it.
The PM... noted that nearly 16-hundred regulations have been removed since the current administration took office, and stressed that cutting red tape in the tech realm will be what helps local businesses go global.
Cha Sang-mi, Arirang News.