The South Korean government has announced its latest regulatory reforms as part of its deregulation efforts to ease market entry. During a meeting with ministers on Wednesday, Prime Minister Lee Nak-yon said.... the government is reforming one-hundred-and-five regulations for start-ups. Those include,... easing licensing and documentation, shorter processing times and commission waivers. The Prime Minister stressed that new businesses create jobs and are proof of a vibrant economy. He also cited multiple obstacles when starting a business,.... such as.... securing funds, and a lack of knowledge and experience,... and said... the government is increasing support for start-ups. He also urged the Ministry of SMEs and Startups to come up with more solutions to help entrepreneurs.
