Busan City Draws Sword for Regulatory Reform... Innovation Report Meeting Starts on 27th

Six Key Tasks Including VAT Exemption on Toll Fees for Private Roads to Revitalize the 'Post-Corona' Economy

Promotional material for the regulatory innovation campaign promoted by Busan City.

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] Busan City will hold a "Regulation Reform Report Meeting" on the 27th at 4 p.m. in the large conference room on the first floor of City Hall, where the public and private sectors will discuss solutions together to recover the local economy in response to the post-COVID era.

This report meeting is a follow-up measure to the "Economic Revitalization Strategy Meeting" held on May 11 to prepare for the post-COVID era. Through the report meeting, the city will present regulatory innovation response strategies to overcome the economic crisis and announce tasks aimed at revitalizing the economy among the 116 tasks intensively identified for strategy execution.

The key tasks are those with a ripple effect on the recovery of the local economy in areas such as economy, marine and tourism, and new industries, and related business people, heads of related organizations, and experts plan to discuss solutions together.

The main regulatory reform tasks include six items: "Exemption of value-added tax on tolls for private roads," "Recognition of export performance for supplies to foreign-flagged ships," "Expansion of the scope of the special extended working hours approval system," "Expansion of flexible working hours measures," "Expansion of the surfing zone at Songjeong Beach to revitalize the surfing industry," and "20% reduction applied when voluntarily paying fines for bus-only lane violations."

Earlier, at 8 a.m., a regulatory innovation publicity campaign was also conducted in the lobby on the first floor of City Hall, distributing promotional materials under the theme "Smart Regulatory Innovation, More Boldly, More Quickly!" to citizens and employees.

A Busan City official said, "To promote regulatory innovation, we will first focus on solving key tasks and plan to operate the 'On-site Regulation Reporting Center,' 'Public-Private Joint Regulation Discovery Team,' 'Regulation Innovation TF,' and 'Regulation Innovation Specialized Consulting Promotion Team' on a regular basis."

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