South Korea’s President Lee Jae-myung Vows Regulatory Reform to Revive Economy

South Korea regulatory reform will be accelerated as President Lee Jae-myung pledges to ease excessive rules and revitalise business activity to support economic recovery. Speaking at a government meeting focused on the bio, renewable energy, and cultural sectors, Lee said rationalising regulations is vital to boost growth and address inequality. He warned that bureaucratic rigidity hampers effective policy execution and urged officials to adopt a more flexible stance toward strategic industries. Lee also stressed balancing deregulation with public safety, adding that the government must coordinate between stakeholders rather than impose blanket restrictions to sustain innovation and job creation.