Starting to Fully Remove Small and Venture Business Killer Regulations... Ministry of SMEs and Startups Holds 1st TF Kickoff

Participation of Public Institutions, Associations, and Field Experts
Plan to Select '100 Killer Regulations in the SME and Venture Sector'

The Ministry of SMEs and Startups has begun to actively eliminate so-called 'killer regulations.'

On the morning of the 28th, the Ministry announced that it held the '1st SME and Startup Killer Regulation Innovation Task Force (TF) Kickoff Meeting.'

Minister Lee Young of the Ministry of SMEs and Startups (fifth from the left in the front row) is attending the 'Breaking Bio Venture and Startup Regulations' event held on May 30 at Korea Bio Park in Pangyo, Gyeonggi Province, posing for a commemorative photo.
[Photo by Yonhap News]

This TF is responsible for two areas under the Ministry of SMEs and Startups among the 15 killer regulations recently selected by the 'Pan-Government Killer Regulation TF.' It plans to propose improvement measures regarding neighborhood regulations affecting the daily lives of small business owners and self-employed individuals, as well as regulatory obstacles hindering the growth of venture startup companies. The TF is chaired by the Vice Minister and includes participation from public institutions, associations, and experts in each field. The small business owners' team includes the Small Enterprise and Market Service, Korea Federation of Micro Enterprise, and Korea Federation of SMEs, while the startup venture team includes the Korea SMEs and Startups Agency, Korea Institute of Startup & Entrepreneurship Development, Korea Startup Forum, and Korea Venture Business Association.

At the meeting, the TF's operational direction for the rapid identification and improvement of killer regulations in the small business and SME startup sectors, as well as candidate killer regulation projects, were discussed.

The candidate projects include discussion topics from the two previous 'Worry Zero Regulation Breakthrough' sessions and 746 regulatory improvement tasks identified through 28 related organizations and associations. The Bio Regulation Breakthrough held on May 30 covered six areas including wearable medical devices, digital therapeutics, and video medication dispensers, while the Small Business and Self-Employed Regulation Breakthrough held on the 20th addressed six areas such as barrier-free kiosks, cosmetic refills, traditional liquor, and pet-friendly cafes.

The identified projects will first be prioritized by dedicated teams in each field based on importance and ripple effects. After expert review, the final 'Top 100 Killer Regulations in the SME and Startup Sector for 2023' will be selected.

Vice Minister Oh Ki-woong of the Ministry of SMEs and Startups stated, "Through the SME and Startup Killer Regulation Innovation TF, we will swiftly identify neighborhood regulations that hurt small business owners and obstacle regulations that block the growth of startup venture companies. We will use all means and methods to resolve the identified killer regulations to the very end."

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