The same goes for real estate policy. The government, ignoring the need to expand housing supply, was consistent with demand-restraining policies such as curbing real estate loans and strengthening taxes. As a result, for four years in the Moon Jae-in administration, the common people had to suffer from soaring house prices and housing insecurity. Although the policy direction was belatedly shifted toward housing supply, the effectiveness of the policy was controversial as it was also promoted by public initiatives excluding the private sector.
Politics, which should support the economy, would rather reduce the vitality of the economy as a single-sided leader of the ruling party. After taking office, President Moon Jae-in established a permanent state affairs consultative body for the ruling and opposition parties, emphasizing cooperation with the opposition parties, but the opening of the store continued to be closed. Due to the one-way traffic of the ruling party and the opposition party’s opposition, there have been few cases in which the public welfare economic bill was handled in a timely manner throughout the past four years.
The results of the government’s wait for the government to minimize market intervention and believe in the competitiveness of the private sector were surprising. K-MV and K-pop, which made the world enthusiastic with parasites and BTS, helped establish Korea as a cultural powerhouse. ‘HyperConnect’, which operates’Azar’, which provides a one-on-one video chat service, was sold overseas for 1.8 trillion won by graceful brothers who run the nation of delivery for 900 billion won. This is the result of a venture promotion policy that does not interfere.
The business community agrees that in order to revitalize the economy and businesses during the remaining one-year term, the government must reduce market intervention and actively pursue regulatory reform. The business community needs to introduce a regulatory management system such as the US’s Two for One Rule, which abolishes the two old ones when one regulation is newly established or strengthened, and the institutionalization of the legislative impact assessment active in Europe, such as the UK and France. I emphasized it.
Vice Chairman of the National Federation of Entrepreneurs Kwon Tae-shin said, “In order to revitalize the economy, we must have institutional competitiveness.” “Our country is so much regulated that it is called a regulatory republic. In addition, there are a lot of penalties for entrepreneurs, with only 2,204 penalties when becoming the CEO of a company.”
He added, “It is time to actively reform regulations in line with global standards for the rest of the term.” He added, “The backward labor-management system, which makes foreign companies hesitate to invest, must also be improved reasonably.”
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