In response to growing concerns about an impending economic downturn, the South Korean Finance Ministry announced on Monday that the nation aims to change a set of company regulations.
According to the Ministry of Economy and Finance, the decision was made during a meeting of the economic-related ministries presided over by Finance Minister Joe Kyung-ho, as reported by the South Korean Yonhap News Agency.
According to the ministry, Sol is preparing to change 24 business-related regulations, which should assist the nation attract 1. 5 trillion Won more in investments (1. 3 billion US dollars).
In the July and September sessions before this one, the government committed to changing 86 regulations.
Joe said at the meeting that “the third batch of goals focuses on resolving obstacles on the site in areas such as export, import and safety management.
In response to criticism that the current regulations are ambiguous and compel businesses to incur needless costs, one of the responsibilities is to establish clear guidelines for explosion protection measures in semiconductor production facilities.
Seoul wants to attract more investments by updating a set of corporate rules.
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