Key is how to let government officials stick to deregulation
These days the hottest topic in Korea must be deregulation, and Thursday's conference at Cheong Wa Dae did nothing to disprove that.
President Park Geun-hye showed her unwavering determination to spur her deregulation drive during the meeting, which was a far cry from previous conferences.
To begin with, the entire meeting ― attended by small business owners, venture capitalists and government officials ― was televised live, a rare setting apparently designed to send a strong message on regulatory reform to both the public and bureaucrats handling regulations.
The public discussion forum continued for seven hours ― probably a record ― exceeding the projected four hours. Most notable was how the meeting proceeded. Civilian participants posed a flurry of complaints about their own difficulties while doing business, which had to be addressed by Cabinet ministers on the spot. President Park interjected at random, asking questions and sometimes reprimanding government officials.
She showed how much she was serious about cutting through the red tape, citing an example of unnecessary regulations on Chinese shoppers who visited online shopping sites to buy clothes featured in a recently aired Korean soap opera, but to no avail due to the cumbersome payment process.
It's not hard to understand why Park resorted to such shock therapy. Aside from the fact that virtually all past governments have failed to achieve remarkable results in deregulation after boasting pompously at the start of their terms, she believes that lifting regulations across the board holds the key to economic revitalization and job creation. That's why she has described regulations as a "cancer'' and an "enemy to be crushed.''
True, the package of proposed deregulation guidelines was exceptionally strong, enough to make people expect this time will be different.
The government said it would cut the number of business-related regulations by 20 percent until 2016, which means that 2,200 cumbersome rules will be dismantled. The government also plans to adopt Britain's "regulation cap'' system to keep steady the total cost of regulations borne by businesses and the public, and all agencies will be obliged to make voluntary reports about their "hidden red tape.''
But haste makes waste. Some interest groups and business organizations are trying to cash in on the latest deregulation drive to remove "necessary but burdensome'' regulations in such areas as finance, environment and economic democratization. The credit card turmoil in 2003 and savings bank fiasco in 2011 are certainly the painful examples of ill-advised deregulation measures.
To make the ongoing regulatory reform successful, President Park and her Cabinet need to be steady and stubborn in implementing deregulation, given that bureaucratic regulations can revive toward the end of the presidential term.
Therefore, the key is how to allow government officials work to continuously abolish unnecessary regulations. In this regard, President Park was right when she told the conference that the success or failure of deregulation will depend on their attitude, resolve and belief.
These days the hottest topic in Korea must be deregulation, and Thursday's conference at Cheong Wa Dae did nothing to disprove that.
President Park Geun-hye showed her unwavering determination to spur her deregulation drive during the meeting, which was a far cry from previous conferences.
To begin with, the entire meeting ― attended by small business owners, venture capitalists and government officials ― was televised live, a rare setting apparently designed to send a strong message on regulatory reform to both the public and bureaucrats handling regulations.
The public discussion forum continued for seven hours ― probably a record ― exceeding the projected four hours. Most notable was how the meeting proceeded. Civilian participants posed a flurry of complaints about their own difficulties while doing business, which had to be addressed by Cabinet ministers on the spot. President Park interjected at random, asking questions and sometimes reprimanding government officials.
She showed how much she was serious about cutting through the red tape, citing an example of unnecessary regulations on Chinese shoppers who visited online shopping sites to buy clothes featured in a recently aired Korean soap opera, but to no avail due to the cumbersome payment process.
It's not hard to understand why Park resorted to such shock therapy. Aside from the fact that virtually all past governments have failed to achieve remarkable results in deregulation after boasting pompously at the start of their terms, she believes that lifting regulations across the board holds the key to economic revitalization and job creation. That's why she has described regulations as a "cancer'' and an "enemy to be crushed.''
True, the package of proposed deregulation guidelines was exceptionally strong, enough to make people expect this time will be different.
The government said it would cut the number of business-related regulations by 20 percent until 2016, which means that 2,200 cumbersome rules will be dismantled. The government also plans to adopt Britain's "regulation cap'' system to keep steady the total cost of regulations borne by businesses and the public, and all agencies will be obliged to make voluntary reports about their "hidden red tape.''
But haste makes waste. Some interest groups and business organizations are trying to cash in on the latest deregulation drive to remove "necessary but burdensome'' regulations in such areas as finance, environment and economic democratization. The credit card turmoil in 2003 and savings bank fiasco in 2011 are certainly the painful examples of ill-advised deregulation measures.
To make the ongoing regulatory reform successful, President Park and her Cabinet need to be steady and stubborn in implementing deregulation, given that bureaucratic regulations can revive toward the end of the presidential term.
Therefore, the key is how to allow government officials work to continuously abolish unnecessary regulations. In this regard, President Park was right when she told the conference that the success or failure of deregulation will depend on their attitude, resolve and belief.
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