Regulatory Reform Committee (RRC)


Thank you for visiting the website of Korea's Regulatory Reform Committee "The Regulatory Reform Committee is joining the nation's efforts for economic recovery." Korea is recovering from the unprecedented global financial crisis faster than other OECD members. This is largely due to the swift and effective response of the Korean government and effective crisis management. The resilience of the Korean economy and its transition into a sustainable growth system which includes a strong focus on green growth have been acknowledged by the international community. Such achievements are attributable to the hard work and cooperation of all Koreans, businesses and workers alike who endured the hardships of the economic downturn in order to overcome this crisis. The Regulatory Reform Committee (RRC) has implemented bold measures such as Temporary Regulatory Relief, Regulatory Reform for New Growth Engine Industries and a sunset clause mechanism in order to expedite an end to the financial crisis. The RRC will be consistent in its efforts to carry out reform measures to build a foundation for future growth, create jobs and stabilize the livelihoods of Korean citizens. To this end, we will cooperate with other government agencies to continue our regulatory reform efforts, complete a review of regulations and expand the sunset clause mechanism. "Regulatory reform is essential to securing growth potential and advancing our economic system." The G20 Seoul Summit will provide a renewed impetus for the RRC to improve Korea's regulatory infrastructure, which will raise the perception of Korea as a country with an advanced regulatory regime. Korea is striving to achieve a vision as a transparent, advanced and open trading country. Korea has concluded the Korea-US FTA, Korea-EU FTA and effectuated the CEPA with India and is now considering an FTA with China and Japan. In the era of globalization, Korea's ultimate goal is to build a global and robust economy which thrives with trade and investment. To this end, the country must improve its regulatory system to meet the global standards and best practices. The RRC has as its mission to carry out bold regulatory reform activities which will lay the foundation for sustainable growth. This is necessary to improve quality of life, increase Korea's growth potential, and encourage business activities. I hope that Korea, as chair of G20 Summit in 2010, will become an example to be emulated, with economic advancement sure to follow. The RRC members including myself will work together to make Korea a benchmark for other countries in the field of regulatory reform. "We appreciate your active participation." I hope you take interest in our activities and do not hesitate to offer advice and suggestions on issues you feel are in need of being addressed. We will keep our eyes and ears wide open. Thank you very much. June 2010,

Chairman of the Regulatory Reform Committee, Choong-Young Ahn

Thank you for visiting the website of Korea's Regulatory Reform Committee

"The Regulatory Reform Committee is joining the nation's efforts for economic recovery."

Korea is recovering from the unprecedented global financial crisis faster than other OECD members. This is largely due to the swift and effective response of the Korean government and effective crisis management. The resilience of the Korean economy and its transition into a sustainable growth system which includes a strong focus on green growth have been acknowledged by the international community.

Such achievements are attributable to the hard work and cooperation of all Koreans, businesses and workers alike who endured the hardships of the economic downturn in order to overcome this crisis.

The Regulatory Reform Committee (RRC) has implemented bold measures such as Temporary Regulatory Relief, Regulatory Reform for New Growth Engine Industries and a sunset clause mechanism in order to expedite an end to the financial crisis. The RRC will be consistent in its efforts to carry out reform measures to build a foundation for future growth, create jobs and stabilize the livelihoods of Korean citizens. To this end, we will cooperate with other government agencies to continue our regulatory reform efforts, complete a review of regulations and expand the sunset clause mechanism.

"Regulatory reform is essential to securing growth potential and advancing our economic system."

The G20 Seoul Summit will provide a renewed impetus for the RRC to improve Korea's regulatory infrastructure, which will raise the perception of Korea as a country with an advanced regulatory regime.

Korea is striving to achieve a vision as a transparent, advanced and open trading country. Korea has concluded the Korea-US FTA, Korea-EU FTA and effectuated the CEPA with India and is now considering an FTA with China and Japan. In the era of globalization, Korea's ultimate goal is to build a global and robust economy which thrives with trade and investment. To this end, the country must improve its regulatory system to meet the global standards and best practices.

The RRC has as its mission to carry out bold regulatory reform activities which will lay the foundation for sustainable growth. This is necessary to improve quality of life, increase Korea's growth potential, and encourage business activities. I hope that Korea, as chair of G20 Summit in 2010, will become an example to be emulated, with economic advancement sure to follow. The RRC members including myself will work together to make Korea a benchmark for other countries in the field of regulatory reform.

"We appreciate your active participation."

I hope you take interest in our activities and do not hesitate to offer advice and suggestions on issues you feel are in need of being addressed. We will keep our eyes and ears wide open.

Thank you very much.

June 2010,