What did Lee Jae Myung say should be protected while South Korea reforms regulations for advanced industries?

Lee said regulations needed to protect people’s lives and safety, along with social fairness and transparency, should remain in place and may need to be strengthened. He called for reform specifically of outdated, inconvenient rules that block new technologies and the development of new industries.

How does Lee Jae Myung plan to connect semiconductor and AI projects with balanced regional development?

Lee said semiconductor clusters and other AI-related facilities should be established in regional areas as part of the administration’s balanced development policy. He called for that strategy to be implemented boldly and said the megaprojects could help promote development across the country.

Why did Lee Jae Myung call for removing administrative regulations on launching venture businesses?

Lee said removing administrative regulations related to launching venture businesses could help promote those businesses, create new jobs and spur economic growth.

Lee urges reform of outdated regulations hampering growth of advanced industries

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Summary

President Lee Jae Myung on Friday urged prompt reform of outdated regulations in South Korea, saying they hamper new technologies and advanced industries and impede the country’s drive for global industrial leadership. Speaking at the second plenary meeting of the regulation rationalization committee, he said regulations protecting safety, fairness and transparency should remain or be strengthened. Lee also called for bold regional development, citing semiconductor and AI-related megaprojects, and urged removing administrative barriers to launching venture businesses.

Key Facts

Lee said the committee’s work was aimed at easing regulations to nurture advanced industries and ensure balanced development, both key initiatives of his administration.
He said new regulations may be needed, and should be strengthened when necessary, to protect people’s lives and safety as well as social fairness and transparency.
Lee said semiconductor and other AI-related megaprojects in regional areas could help promote balanced development across the country.
He said promoting venture businesses could create new jobs and spur economic growth.

By Yonhap

Published Oct 23, 2026 4:05 pm KST

President Lee Jae Myung speaks during the second plenary meeting of the regulation rationalization committee held at Cheong Wa Dae in Seoul, Friday. Yonhap

President Lee Jae Myung on Friday urged prompt and bold reform of outdated regulations that hamper the growth of new technologies or advanced industries, calling it an essential task in the country's drive for global industrial leadership.

The president made the call at the second plenary meeting of the regulation rationalization committee, aimed at easing regulations to help nurture advanced industries and ensure balanced development, both of which are key initiatives of the Lee administration.

"Rationalizing regulations is an essential task in establishing an irreplaceable Republic of Korea," Lee said, reiterating his administration's push to establish global leadership in advanced industries.

The president said new regulations would still be needed and should even be strengthened to protect people's lives and safety, as well as social fairness and transparency, but any outdated regulations hampering growth should be promptly reformed.

"Outdated, inconvenient regulations that block new technologies and the development of new industries should be reformed promptly and boldly," he said.

The president also highlighted the urgency of pursuing his administration's balanced development policy, stressing that the strategy of promoting balanced regional development should be implemented boldly.

He said the "megaprojects" aimed at establishing a semiconductor cluster and other artificial intelligence-related facilities in regional areas could help promote balanced development across the country.

Additionally, the president called for the removal of administrative regulations related to launching venture businesses, saying that promoting venture businesses could help create new jobs and spur economic growth.

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