Government and Business Leaders Unite for Swift Regulatory Changes

In a significant move to streamline regulations affecting the semiconductor industry, officials from the Office for Government Policy Coordination and six major economic organizations gathered at the Conference House in Jung-gu, Seoul, on December 11.

Representatives from the Korean Enterprises Federation (KEF), Korea Chamber of Commerce and Industry, Korea Federation of SMEs, Korea Federation of Mid-sized Enterprises, Federation of Korean Industries, and Korea International Trade Association attended the meeting, alongside Deputy Minister Nam Hyung-gi and Director Son Dong-gyun.

The business community highlighted the need for urgent changes to specific regulations impacting the semiconductor sector. "The regulation requiring the installation of windows for firefighters in the cleanrooms of semiconductor factories is unique to our country," stated Lee Dong-geun, Vice Chairman of KEF. He emphasized the necessity to prioritize improvements to regulations with significant economic impacts.

Deputy Minister Nam acknowledged the concerns and noted the recent positive evaluation of Korea's regulatory policies by the OECD. "We plan to strengthen feedback on corporate proposals," he said, recognizing the criticisms of insufficient feedback.

The meeting underscored the importance of continuous dialogue and cooperation between the government and the business community. Both parties plan to establish a constant communication channel and promote regular meetings to address on-site regulations hindering corporate investment and job creation.