The government in South Korea decides to release regulations that hinder business activities.

In South Korea, the government has decided to break down uniform chemical regulations for small and medium-sized companies by unifying multiple ministries' double approval process to resolve corporate site difficulties significantly. 

On the 7th of June, the government held an "Economic Regulatory Innovation Task Force" meeting presided over by the Deputy Prime Minister and Minister of Strategy and Finance, Choo Kyung-ho, at the Government Complex Seoul and announced the "5th Economic Regulatory Innovation Plan" and the "Small and Medium Business Chemical Regulatory Innovation Plan." 

The burden of customs administration such as certification and reporting of import and export companies is also expected to decrease. Suppose an approved exporter for each item acquires certification rights for several new items. In that case, the validity period of the certification varies depending on the time of acquisition. Still, the validity expiration date of the certified items is integrated into one date. 

Regarding the regulation of chemicals in small and medium-sized enterprises, the enforcement regulations of the Chemical Substance Control Act will be revised to extend the validity period of the technical personnel standard that meets the criteria for completing the curriculum by five years from December this year to December 2028. In addition, when evaluating the qualifications of hazardous chemical managers, it was decided to additionally recognize surface treatment and precision industrial chemical qualifications that deal with the safety management of hazardous chemicals. 

If the Ministry of Employment and Labor approves the import of banned substances by revising the Enforcement Rules of the Ministry of Employment and Labor's Occupational Safety and Health Act, the import licensing system will become one, recognized as a permitted import license by the Ministry of Employment and Labor (MOEL).

The government will also revise the Act on Registration and Evaluation of Chemical Substances in the first half of 2024 and strengthen the protection of trade secrets by allowing "EU-style generic names" for trade secrets when transferring or transferring mixed products. 

To this end, based on the management system reform plan discussed by the public, industry, and government at the Chemical Safety Policy Forum in December 2022, a revision to the Chemical Substance Control Act and the Act on Registration and Evaluation of Chemical Substances will be prepared by August 2023 by related ministries, including the Ministry of Environment,

During the second half of 2023, the government will also push for revisions of the Act on Registration and Evaluation of Chemical Substances and the Chemical Substance Control Act, including the establishment of a management system based on the harmfulness, handling volume, and risk of chemicals.