South Korean President Lee Jae Myung (R) speaks during a meeting with his senior secretaries at the presidential office Cheong Wa Dae in Seoul, South Korea, 09 April 2026. Photo by YONHAP / EPA
April 15 (Asia Today) — Lee Jae-myung said Tuesday that South Korea should shift to a “negative regulation” system in advanced technology sectors to strengthen global competitiveness and revive economic growth.
Speaking at the first plenary session of the Regulatory Rationalization Committee at the presidential office, Lee said the country must enhance its competitiveness amid intensifying global economic competition.
He identified restoring growth potential as a key national priority and said competitiveness ultimately depends on strengthening individuals, companies and industries.
“To achieve that, we must remove unnecessary or inefficient regulations and align them with international standards,” Lee said. “In advanced technology and high-tech industries, we need to move toward a negative regulation system.”
Under a negative regulatory framework, activities are allowed unless they are explicitly prohibited by law or policy.
Lee acknowledged concerns about the risks of loosening regulations but stressed the need for speed and flexibility.
“I feel anxious as well – what if something goes wrong?” he said. “But we must trust the system. If problems arise, we must respond immediately, either by banning or controlling them.”
The president also emphasized the importance of balanced regional development in regulatory reform, calling it essential for long-term national survival rather than a matter of policy preference.
He proposed creating large-scale regional regulatory zones to encourage innovation and urged officials to consider what kinds of activities could be permitted within such areas.
— Reported by Asia Today; translated by UPI
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Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260415010004617