[EDITORIALS]Let businesses carry on

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[EDITORIALS]Let businesses carry on

The history of Korea’s efforts to reform regulations goes back two decades. During the Chun Doo Hwan administration, the first regulatory reform committee was established. In the Kim Dae-jung administration, a presidential commission was formed to deal with the matter.
Every administration has been proudly announcing its achievements in easing hundreds, or even thousands, of regulations.
But a businessman still needs to go through a process of obtaining hundreds of signatures to build a golf course. Many business owners continue to say they want to move their factories to China due to the strict regulations here.
Yesterday, a task force team on regulatory reform was newly established under the prime minister’s office. In a departure from the past, the team is jointly formed by the government and the private sector. Large business groups such as Samsung, LG and Hyundai Motor, and business organizations, are participating.
This team is designed to reform regulations from the vantage point of those affected by them. We should pay attention to see if this team will actually have some practical and effective achievements, reflecting reality.
Frankly, Korean companies have the ability to develop if they are free of the government and politics. Korean enterprises have been successful in foreign markets because of the businessmen’s vigorous efforts.
Do not intervene in private businesses by applying the conventions of the early industrial development era. If public servants and politicians just leave our companies alone, Korean businesses will develop so much further.
The new team must study why businessmen are continuously complaining about regulations. As intended, the team must review all regulations thoroughly from the viewpoint of businessmen, not public servants.
Regulations must be simplified so that an ordinary businessman does not have to visit government offices to understand the regulations, in order to minimize the public servants’ discretion over business matters.
We are hearing depressing news that China will outrun Korea in the near future. If entrepreneurs continue complaining that “We can’t do business here because of unreasonably rigid regulations,” under such circumstances, our economy has no hope.
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