Legal and Medical Startups Blocked by Entrenched Interests... Ruling Party's Regulatory Innovation Meeting

Sung Il-jong, Chairman of the Policy Committee of the People Power Party, is attending the floor countermeasure meeting held at the National Assembly on the 13th and delivering opening remarks. Photo by Yoon Dong-joo doso7@

[Asia Economy reporters Lee Ji-eun and Kwon Hyun-ji] The People Power Party held a session to directly hear from startup stakeholders to foster unicorn companies.

On the afternoon of the 15th, the People Power Party held a 'Startup Regulatory Innovation Meeting' in the main conference room of the National Assembly building to listen to the industry's difficulties.

The event was co-hosted by Seong Il-jong, chairman of the People Power Party Policy Committee, and Han Mu-gyeong, the party's secretary of the Industry, Trade, Energy, Small and Medium Venture Business Committee. From the business sector, attendees included Lee Jeong-min, secretary general of the Venture Business Association, Kim Bon-hwan, CEO of Law&Company, Jang Ji-ho, CEO of Dr. Now, Jeong Ji-eun, CEO of CoDot, and Kim Jae-won, CEO of ELICE.

Chairman Seong said, "The Yoon Seok-yeol administration has set national tasks to expand private sector capabilities through regulatory innovation and to lead market functions with a private-sector focus." He added, "We will listen to the opinions of today's attendees, consult again with the Regulatory Reform Committee, and always be by your side to support and assist you."

Representative Han emphasized the need for regulatory reform, saying, "'Tada' was banned, and now taxi fares are 4,800 won. Even if you desperately pay 4,800 won, taxis do not come even after waiting for two hours."

The meeting, which lasted nearly an hour, switched to a closed session after public remarks. After the meeting, Chairman Seong said, "There were complaints about many obstacles caused by vested interests when providing legal services. Such issues need to be addressed in places like the Legislation and Judiciary Committee." He added, "We will carefully categorize the difficulties by each sector, pass them on to the necessary lawmakers, and work with the Regulatory Reform Committee to assist."

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