Lee vows to ease unnecessary regulations to spur economic growth

▲ President Lee Jae Myung speaks during an interagency meeting on rationalizing key regulations held at the presidential office in Seoul on Oct. 16, 2025. (Pool photo) (Yonhap)

Lee-regulations

Lee vows to ease unnecessary regulations to spur economic growth

By Kim Eun-jung

SEOUL, Oct. 16 (Yonhap) -- President Lee Jae Myung said Thursday the government will ease unnecessary regulations and take a more active role in mediating conflicting interests to revitalize business activities and support economic recovery.

Lee made the remarks in an interagency meeting on regulatory reforms focused on bio, renewable energy, and cultural industries held at the presidential office.

"To revive the economy, we must reinvigorate business activities, and rationalizing regulations is a key task," Lee said. "Our most important mission is to restore growth so we can fairly distribute new opportunities and alleviate economic polarization and inequality."

He warned that bureaucratic rigidity and officials' excessive exercise of authority could hinder policy execution on the ground, calling for a more flexible approach toward strategic sectors.

"We should actively promote the renewable energy, bio, and cultural sectors as major industries," Lee said. "If there are any obstacles in these areas, we should listen closely to voices from the field and, within reasonable limits, eliminate potential risks as much as possible so that people can freely express their creativity.

He also emphasized the government's responsibility to mediate between stakeholders and balance deregulations with safety measures.

"Rather than simply imposing regulations to avoid conflicts of interests, it is important to skillfully coordinate differences. It is the proper role of the government," he said.

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