Abolishing Over 20-Year-Old Outdated Technical Regulations... "Creating 8,200 Jobs in 2023"

Ministry of Industry Announces 'Technology Regulation Innovation Plan'

Minister of Trade, Industry and Energy Moon Seung-wook is attending the Central Disaster and Safety Countermeasures Headquarters (CDSCH) meeting on COVID-19 held at the Government Seoul Office on Sejong-daero, Jongno-gu, Seoul, on the 14th. Photo by Kim Hyun-min kimhyun81@

[Sejong=Asia Economy Reporter Kwon Haeyoung] The government will conduct a comprehensive review and overhaul of 61 statutory certification systems that have been in place for more than 20 years. Regulations that fall short of global standards among Korean Industrial Standards (KS) and Safety Certification (KC) will also be revised. Through these regulatory improvements, the government anticipates an economic effect worth 1.75 trillion won by 2023 and the creation of approximately 8,200 jobs by reducing certification costs and expanding exports.

On the 5th, the Ministry of Trade, Industry and Energy announced the "Technology Regulation Innovation Plan for Corporate Vitality and Export Promotion" at the 130th National Policy Coordination Meeting chaired by Prime Minister Kim Boo-kyum.

The plan focuses on swiftly introducing technology regulations that enhance corporate productivity while boldly abolishing those that cause unnecessary costs and procedures due to falling short of global standards.

First, among a total of 211 statutory certification systems, 61 certification systems that have been in place for over 20 years will undergo in-depth review. The validity of the certification system’s purpose and the necessity of maintaining the system will be carefully examined, and if deemed ineffective, the system will be abolished or converted to private certification. Certifications over 20 years old include standby power reduction programs, taxi meter inspections, mechanical parking lot safety certifications, and seafood quality certifications.

The Ministry will also revise domestic technology regulations that do not comply with international standards such as those from the International Organization for Standardization (ISO) and the International Electrotechnical Commission (IEC). First, among KS standards and KC technical standards managed by the Korean Agency for Technology and Standards, 121 KS standards and 19 KC standards that raise concerns about export competitiveness due to differences between domestic and international technology regulations will be revised by 2023.

To respond to the increasing trade technical barriers (TBT), the government plans to translate and provide technology regulation information from 15 key TBT countries (10 major export countries and 5 emerging countries) into Korean. This year, TBT cases have increased by more than 20% compared to the same period last year, reaching an all-time high.

Minister Moon Seung-wook of the Ministry of Trade, Industry and Energy said, "Technology regulations can enhance product reliability and promote technological development, giving vitality to companies, but excessive technology regulations burden companies. We will improve domestic technology regulations to meet global standards so that the technological competitiveness of our companies can be enhanced."