(SEOUL = Newsis) The Korean government decided to carry out major local-government regulatory reforms, set up a new information system and establish reporting centers to revitalize regional investments. It also plans to create a business vitality index of each local government and introduce it to the public.

The Ministry of Security and Public Administration (MOSPA) announced on February 10 that it will set up a “local regulatory information mapping system” by June to sort out local regulations with the most complaints.

The ministry will also create the business vitality index of local governments by September to encourage the local bodies to voluntarily regulate businesses and improve the business environment.

It will establish “local regulatory reporting centers” in major cities and provinces to identify problematic regulations, and organize a preliminary review panel at the regulatory improvements advisory committee, which aims to offer solutions for regulatory issues through a joint review by relevant authorities and local governments on the “regulatory improvements advisory committee.”

MOSPA assembled the regulatory improvements advisory committee on February 10 at the Central Government Complex in Seoul. The committee, which was chaired by the Minister of MOSPA, Yoo Jeong-Bok, discussed the topic of “government’s policy direction on investment promotion and regulatory reforms” as well as specific action plans for “measures for local regulatory reform,” which was announced on December 13 last year at the 4th trade and investment promotion meeting.

“Regulatory reform is the best way to vitalize investments with the least cost,” said Minister Yoo. “We ask the heads of local governments and other economic authorities for their active participation and support to achieve desirable results and spread the effect of the reform across the nation.”

“The ministry will also carry out assessments on the outcomes of the reforms with relevant authorities, and provide administrative and financial incentives to local governments that achieved outstanding results,” Yoo added. MOSPA plans to open a special education program at the Central Officials Training Institute to provide relevant trainings.

Meanwhile, MOSPA on February 10 awarded 26 local governments that achieved outstanding results from regulatory reforms. Four local governments won the grand prizes (two metropolitan governments and two primary local governments), six others received excellence awards (two metropolitan governments and four primary local governments) and 16 received participation awards (three metropolitan governments and 13 primary local governments). The ministry also announced that Daegu-si, Chungcheongnam-do, Icheon-si and Sangju-si obtained the best results from regulatory reforms in 2013.

bom@newsis.com

Source Text

Source: Newsis (Feb. 10, 2014)

** This article was translated from the Korean.