Yoon says implementation of 263 regulations to be deferred

SEOUL, President Yoon Suk Yeol said Wednesday the government will defer the implementation of 263 regulations applying to industrial complexes and other areas to promote the investment and growth of businesses. Yoon also said during an emergency economy and public livelihood meeting the government will abolish 18 types of charges levied on everything from movie tickets to school grounds to reduce the financial burden on people and companies. "We will swiftly lift regulations governing business sites and facilities that are blocking businesses' investment and growth," he said during the meeting at the presidential office. "If there are no side effects in the process of deferring the regulations' implementation, we will abolish those that need to be abolished and improve those that need to be corrected." The regulations whose implementation will be deferred by two years include height restrictions on buildings inside industrial complexes for semiconductor companies, while improvements will be made to regula tions on hiring foreign workers so that employers who can prove their laborers deserted the workplace illegally are not limited from hiring foreign workers in the future. The government will also repeal 18 types of charges and reduce 14 types of charges to gradually lower the 3.7 percent charge added to electricity bills by 1 percentage point and cut departure fees from 11,000 won (US$8.15) to 7,000 won, among other things. Such charges are often added to bills in the interest of the public benefit but criticized for being "quasi-taxes" as consumers are forced to pay them without their knowledge. "Together with burden-reduction measures, we will introduce active financial support measures to increase the vitality of people's livelihoods," Yoon said, pledging 42 trillion won in funds to alleviate the difficulties of small and medium-sized firms. Source: Yonhap News Agency