President Moon to hold meeting on deregulation

SEOUL, June 27 (Yonhap) -- President Moon Jae-in was set to attend a special meeting Wednesday to discuss easing regulations that block business innovation.

The president is expected to call for efforts to further accelerate the removal of excessive regulation, officials from the presidential office Cheong Wa Dae said.

The deregulation meeting, the second of its kind since Moon took office last year, will start at 3 p.m at Cheong Wa Dae.

"The meeting will be held for about two hours under the slogan of 'regulation innovation, a power to change the future,'" a Cheong Wa Dae official said.

The meeting will be attended by dozens of top government officials and business leaders, including the heads of the Korean Chamber of Commerce and the Korea Employers Federation.

In the first deregulation meeting, held in January, the president highlighted the need to remove unnecessary regulations "at least to provide a chance for our young people to freely make challenges."

The president has also called for a zero-based start for new businesses.

"The key is to first allow new industry and new technology. I ask you to reconsider the very premise that a new business is possible when there is a governing regulation. We are seeking to completely overhaul the regulation system to first allow market introduction of new products and new technologies and then regulate if necessary," he has said.

bdk@yna.co.kr
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