Gyeonggi-do Identifies 21 Tasks for Improving Corporate Regulations

Gyeonggi Provincial Government Gwanggyo New Office Building

Gyeonggi Province has identified 21 tasks for improving corporate regulations and proposed them to the government.

Gyeonggi Province announced on the 6th that it conducted a comprehensive survey on corporate regulations targeting cities, counties, and affiliated public institutions from January 25 to February 17, and discovered 21 improvement tasks.

By category, these include ▲12 cases related to location and construction ▲3 cases related to finance and taxation ▲1 case related to environment ▲1 case related to startups and ventures ▲1 case related to certification and technology.

In the location and construction sector, improvement tasks proposed include 'Reduction of conservation charges in development-restricted areas,' 'Expansion of eligible industries for factories within knowledge industry centers,' and 'Relaxation of the scope of construction industry as a restricted industry in industrial complex industrial facility zones.'

In the finance and taxation sector, 'Mandatory confirmation of development charge reductions for startup companies' was identified as an improvement task.

The discovered improvement tasks will be reviewed by the provincial departments in charge and the 'Corporate Regulation Advisory Group' (tentative name), and then proposed to central government ministries or the Office for Government Policy Coordination.

The Corporate Regulation Advisory Group will be composed of 10 to 15 experts with field experience this month to conduct on-site visits, diagnose, verify, and advise on regulations.

Choi Min-sik, head of the Regulatory Reform Division of the province, said, "Regarding corporate regulation improvements, we plan to listen to difficulties and seek solutions through on-site consulting, semiannual meetings with cities and counties, and quarterly corporate meetings," adding, "Corporate regulations are not easy to improve, and the discovery process itself is challenging, so please actively propose whenever problematic regulations arise during business operations."