President Moon presides over Cabinet meeting, deliberates and approves agenda including Regional Commercial Coexistence Act

Cheong "46 Bills Transferred to Government Promulgated"... Report on 4th Anniversary of Ministry of SMEs and Startups Launch Also Conducted

[Asia Economy Reporter Ryu Jeong-min] On the morning of the 20th, President Moon Jae-in presided over the Cabinet meeting via video conference from the Government Seoul Office and Sejong Office at the Yeomin 1 Building of the Blue House, reviewing and resolving agenda items including the promulgation of laws related to coexistence and revitalization of local commercial districts.

Im Se-eun, Deputy Spokesperson of the Blue House, explained in a written briefing that "at today's Cabinet meeting, 46 bills that were passed at the 388th extraordinary session and sent to the government were decided to be promulgated in accordance with Article 53 of the Constitution."

The "Act on the Promotion of Coexistence and Revitalization of Local Commercial Districts" designates local coexistence zones and autonomous commercial districts, establishing a system where building owners and store tenants can coexist and cooperate.

[Image source=Yonhap News]

The "Partial Amendment Act on the Development and Promotion of Environmentally Friendly Automobiles" stipulates financial support for companies related to environmentally friendly automobiles, the introduction of purchase target systems for such vehicles, and mandates the installation of charging facilities and exclusive parking spaces for environmentally friendly automobiles in public buildings.

Among the presidential decrees passed at the Cabinet meeting, the "Partial Amendment of the Enforcement Decree of the Customs Act for the Implementation of Free Trade Agreements" reflects key provisions of agreements such as preferential tariff rates (FTA preferential tariffs) for imported goods in the enforcement decree. Deputy Spokesperson Im stated, "The Korea-Indonesia CEPA and Korea-Israel FTA have completed formal signing and are currently undergoing procedures in both countries for ratification by the National Assembly and enforcement."

Additionally, the partial amendments to the regulations on proactive administration and the regulations on proactive administration for local public officials are follow-up measures to the 2021 proactive administration promotion plan announced in February this year.

Meanwhile, after the Cabinet meeting agenda review, the Ministry of SMEs and Startups reported on the "Achievements and Future Plans of the 4 Years Since Its Launch."

Deputy Spokesperson Im conveyed, "Over the past four years, investment in venture companies has more than doubled compared to 2017, and venture companies have created more jobs than the four major conglomerates. We will make every effort to prepare for disaster relief funds and the implementation of the loss compensation system to support the recovery of small business owners facing difficulties due to the resurgence of COVID-19," he said.

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