Junggi Joonganghoe Signs MOU with Seoul City to Identify and Eliminate SME Regulations

Strengthening Cooperation with Seoul City, KCCI, and SBA
for Prompt Resolution of Unreasonable Regulations

The Korea Federation of SMEs announced on the 27th that it has signed a 'Memorandum of Understanding (MOU) for Discovering and Eliminating Regulations on Seoul-based Companies' with the Seoul Metropolitan Government, the Korea Chamber of Commerce and Industry, and the Seoul Business Agency (SBA).

Through this MOU, the four organizations agreed to establish a joint cooperation system focused on promptly identifying and improving unreasonable regulations that hinder the innovation and growth of companies located in Seoul.

According to the agreement, each organization will leverage its expertise to collaborate on efforts including ▲investigating regulations and difficulties faced by companies in the Seoul area ▲jointly discovering regulations through meetings and forums ▲supporting collaboration to resolve regulations, publicizing issues, and making government recommendations ▲supporting the activation of regulatory sandboxes for Seoul companies ▲and other regulatory cooperation measures and new business discovery efforts.

Choo Moon-gap, Head of the Economic Policy Division at the Korea Federation of SMEs, stated, “Public-private cooperation to resolve regulatory difficulties for SMEs is more urgent than ever to overcome the current domestic and international economic crises,” adding, “We hope that this agreement will lead to strengthened competitiveness of local companies by adding efforts to resolve unreasonable regulations not only at government ministries but also at the local government level.”