"Search Thoroughly"... Busan City Fires Starting Shot for Removing Corporate Regulations

Park Hyung-jun Personally Resolves Regulatory Issues at LS Electric Expansion Site
Busan Establishes Corporate Regulation Innovation Plan to Ignite Economic Vitality
Four Stages and Fourteen Tasks: Discovery → Innovation Plan → Resolution → Post-Management

#. Park Hyung-jun, Mayor of Busan, visited the expansion construction site of LS Electric Co., Ltd.'s Busan factory on January 23rd, where the company was struggling due to regulations. The mayor personally resolved the issue of occupying buffer green space to ensure the construction proceeded without setbacks. This case marked the starting signal for the implementation of an innovation plan to remove obstacles to business operations.

On the 19th, Busan City announced that it will actively promote the Corporate Regulation Innovation Promotion Plan, which contains strategies to resolve corporate regulations.

The city recognized the need to establish a systematic and innovative corporate regulation resolution system to quickly address various regulations hindering business activities, and thus prepared this Corporate Regulation Innovation Promotion Plan.

This plan aims to revitalize the regional economy through bold corporate regulation innovation and consists of four stages and 14 promotion tasks: ▲ intensive regulation discovery ▲ preparation of regulation innovation proposals ▲ decision and resolution of regulation innovation ▲ post-management and performance dissemination.

The first stage is the so-called 'intensive regulation discovery,' which involves thoroughly searching for obstacles. Through ▲ on-site visits for corporate regulation innovation ▲ practical communication meetings on-site ▲ public-private joint corporate regulation discovery teams ▲ operation of intensive regulation discovery periods ▲ investigation of long-term unresolved regulations ▲ and discovery of regulations affecting investment companies, various regulations hindering business activities are identified.

Public and private sectors will proactively visit local companies and listen to difficulties from economic-related associations and organizations through the 'public-private joint corporate regulation discovery team.'

To discover obstacles that the local industry can feel, customized practical communication meetings will be held by various economic sectors and industrial complexes.

Additionally, an intensive regulation discovery period will be operated targeting local companies, and a full investigation of long-term unresolved regulations will be conducted. Various regulations related to the realization of investment plans by investment companies will also be identified through dedicated public officials (PMs) for large-scale investment projects and dedicated public officials by region.

The second stage is the preparation of regulation innovation proposals. Through ▲ corporate regulation innovation working meetings ▲ public-private joint corporate regulation innovation councils ▲ and active utilization of pre-consulting audits, concrete alternatives for the discovered issues will be prepared.

The discovered issues will be discussed at the corporate regulation innovation working meetings composed of the city, districts/counties, and related organizations to prepare concrete alternatives that can enhance administrative execution power.

Subsequently, the public-private joint corporate regulation innovation council will derive effective regulation innovation proposals reflecting the voices of economic organizations, experts, and the field.

Moreover, the pre-consulting audit system will be actively utilized to improve passive administration related to permits and regulations experienced by companies.

The third stage is the decision and resolution of regulation innovation. Through ▲ corporate regulation innovation governance ▲ designation of dedicated public officials for corporate regulation innovation ▲ and public-private joint on-site visits, regulation innovation proposals will be decided and resolved.

The final regulation innovation proposals, combining professional analysis and administrative practicality through public-private cooperation, will be announced via corporate regulation innovation governance.

To swiftly implement the final regulation innovation proposals, dedicated public officials for corporate regulation innovation will be appointed, and the mayor will personally visit key regulatory sites such as core issues to take a leading role in resolving regulations.

The fourth stage is post-management and performance dissemination. ▲ implementation inspection and performance management ▲ promotion of regulation improvement effects and best practices will be pursued.

The progress of regulation improvement will be checked regularly, and the effectiveness of regulation innovation will be continuously evaluated and improved. Additionally, the effects of regulation improvement and best practices will be actively promoted to encourage broad participation and interest from local companies.

Busan City plans to visit sites by March. Through operating the intensive regulation discovery period and other measures, it will identify various hidden regulations and prepare concrete alternatives, announcing core regulation innovation proposals in June.

Busan companies struggling with regulations can submit regulatory issues through the city's website Corporate Regulation Difficulty Reporting Center, One-Stop Corporate Support Group, or One-Stop Corporate Support Center.

Mayor Park Hyung-jun of Busan said, “Based on public-private cooperation, we will first discover and resolve regulations to revitalize the regional economy by actively visiting sites and finding solutions,” and added, “We ask for much interest and participation to create an innovation wave throughout the economy by establishing a corporate regulation innovation system.”

Busan City Hall.

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