Ministry of SMEs and Startups Introduces 'SME Regulation Forecast System' Utilizing AI

[Asia Economy Reporter Kim Daeseop] The Ministry of SMEs and Startups announced on the 27th that it will promote a service project to introduce a 'Regulation Forecast System' that continuously monitors regulations unfavorable to small and medium-sized enterprises (SMEs) and ensures that the opinions of SMEs are actively reflected.

This Regulation Forecast System is an interactive communication system that scientifically analyzes the impact of regulations that impose a heavy burden on SMEs in advance using artificial intelligence (AI).

The Ministry explained that SMEs find it difficult to know when regulations unfavorable to them are being created compared to large corporations, and often only become aware of new regulations after the laws are enforced, raising issues afterward. Therefore, they are promoting a service project to introduce the Regulation Forecast System.

The Regulation Forecast System allows the public to directly participate in the legislation of new regulations to prevent regulations on SMEs in advance. It is differentiated from the existing SME Ombudsman system, which reflects businesspeople's improvement requests regarding already enforced regulatory laws.

The Ministry plans to establish a Regulation Forecast Center to analyze the industry-specific impact of ministry legislative notices and parliamentary legislation, and select the optimal participants for opinion gathering through AI. The goal is to build a system that provides infographics via social media and receives feedback from regulated business groups and the public.

Lee Byung-kwon, Policy Planning Officer at the Ministry of SMEs and Startups, said, "Preventing corporate regulations is the best way to strengthen competitiveness without incurring costs, directly linked to national competitiveness and job creation," adding, "Through the introduction of an advanced country-type Regulation Forecast System, we will prepare measures to expand channels for presenting opinions on the establishment of regulations that constrain SMEs without infringing on the legislative authority of the National Assembly."

This content was produced with the assistance of AI translation services.