South Korea to back '3 mega-projects' with regulatory reform, special law

Park Yong-jin, vice minister of the Presidential Commission for Regulatory Rationalization, outlined the government's commitment to fostering "mega-projects" through a "mega-special zone" initiative. This plan aims to drive significant change in South Korea by providing regulatory exceptions, tax breaks, and financial support to strategic industries like AI and semiconductors.

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The direction of the government's regulatory policy is to start with the mega-special zone project and the mega-special zone special law to create great change in South Korea.

Park stressed the necessity of regulatory reform for advanced sectors such as robotics and autonomous vehicles. He illustrated the need for proactive adaptation, imagining a future where humanoid robots deliver chicken and questioning current regulations on delivery robots and park access. He also emphasized the importance of large-scale urban testing for autonomous vehicles to gather sufficient data for development.

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We must prepare for the possibility that humanoid robots carrying chicken will soon become a reality, not just a fantasy.

The "mega-special zone" law is designed to streamline deregulation by addressing entire regulatory frameworks at once, rather than piecemeal. However, proposals to ease labor regulations, such as excluding R&D personnel from the 52-hour workweek and extending fixed-term contracts, have drawn criticism from labor unions. Park acknowledged these concerns, stating the need for "safety nets" and "wise negotiation" to proceed.

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It takes time to resolve individual regulations one by one, so the mega-special zone law is about resolving and supporting them all at once.

Park also commented on the K-Chip Act, noting that while the 52-hour workweek was a point of contention during its legislative process, major companies like Samsung Electronics have since reported significant profits. He cautioned against overemphasizing large corporations, which could overshadow the needs of smaller, crucial industries. Regarding the Serious Accidents Punishment Act and the "Yellow Envelope" bill, Park suggested that policies should be revised if they produce unintended negative consequences.

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Labor circles worry that if regulations are eased in special zones, they will be eased nationwide. We must create safety nets and proceed wisely through consultation and negotiation.