Busan Port Authority Establishes Private Sector Growth Support Regulatory Reform Legal Task Force

Busan Port Authority.

[Asia Economy Yeongnam Reporting Headquarters Reporter Hwang Du-yeol] Busan Port Authority (BPA) launched a dedicated task force for regulatory reform legal affairs (Regulatory Reform Legal TF) on the 1st to actively respond to the government's regulatory reform policy aimed at supporting private sector growth.

The Regulatory Reform Legal TF, operated with a total of 10 personnel, will serve as a stepping stone for private companies to grow in the maritime port sector by improving regulations and potential constraints existing at the Busan port construction and operation sites.

The Regulatory Reform Legal TF plans to expand its duties to establish a foundation for proactive administration to ensure the smooth progress of the new government's ambitious national tasks and to meet the increasing legal demands within the organization, such as litigation management and legal consultation, which rose significantly from 23 cases in 2020 to 34 cases in 2021.

The government has actively expressed its commitment to regulatory reform by introducing the 'Regulatory Innovation Strategy Meeting,' the highest decision-making body for regulatory innovation, and launching the 'Regulatory Innovation Promotion Team' to ease complex intertwined regulations. The establishment of the TF can be seen as the first step in Busan Port's regulatory reform in line with this trend.

Kang Jun-seok, BPA President, said, "With the launch of the Regulatory Reform Legal TF, we will listen more closely to the diverse voices of Busan Port stakeholders and support private sector growth through regulatory reform and proactive administration at the port site."