Ministry of SMEs and Startups Identifies 1,193 Killer Regulations Affecting SMEs and Ventures This Year

Establishing a Regulatory Innovation System through the 'SME Venture Killer Regulation TF'

The Ministry of SMEs and Startups (Minister Lee Young) announced on the 21st that it discovered a total of 1,193 regulations throughout this year through the 'SME and Startup Killer Regulation TF.' This year, the Ministry of SMEs and Startups, which launched the SME and Startup Killer Regulation Innovation TF, selected the 'Top 150 SME and Startup Killer Regulation Tasks' to be prioritized for resolution through expert review among the 1,193 regulatory improvement tasks discovered.

Based on this, core regulatory improvements were made through four rounds of 'Breaking Regulations.' Breaking Regulations is a forum to discuss regulatory improvements with the public. Unlike previous meetings composed of companies and stakeholders, a citizen jury was introduced to resolve regulations based on public opinions and consensus on key regulations. Starting with the bio regulation breaking session in May, a total of four sessions were held covering small business alley regulations, mobility, and more, discussing 19 key regulations with about 300 citizen jurors. Among the tasks discussed during Breaking Regulations, 'Institutionalization of electric cargo bicycles' and 'Allowing AI learning on facial information' are representative cases that led to actual regulatory improvements.

Additionally, through SME regulatory impact assessments, 721 newly established or strengthened regulations were reviewed, proactively blocking the legalization of excessive and unreasonable regulations, thereby alleviating the regulatory burden on approximately 2.83 million SMEs, startups, and small business owners. The Ministry explained that this is expected to result in an annual regulatory cost reduction effect of about 20.8 billion KRW. A representative case is the adjustment of the application standard for private biogas mandatory producers among pig farms from 20,000 heads to 25,000 heads, which reduced the biogas facility installation cost burden on pig farms by about 18.7 billion KRW.

Lee Dae-geon, Policy Planning Officer of the Ministry of SMEs and Startups, said, "Going forward, we will actively pursue regulatory improvements by directly engaging with industry voices on the ground to remove obstacles to the growth of SMEs, startups, and small business owners."

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