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Opposition party warns against 'indiscriminate' deregulation

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Published : 2014-03-21 11:24
Updated : 2014-03-21 11:25

The main opposition Democratic Party took a swipe at President Park Geun-hye Friday for her campaign to remove excessive regulations on business activity, saying "indiscriminate" deregulation could be disastrous.

Park held a marathon meeting with government regulators and businesses on Thursday in a move demonstrating her commitment to root out non-essential regulations she has denounced as South Korea's "archenemy" and "a lump of cancer."

During the nationally televised meeting, Park said she believes deregulation is the only tool without any cost that can stimulate the economy and make it "leap forward."

The opposition party, however, warned against removing too many regulations.

"Getting rid of bad regulations is good, but removing good regulations is a bad thing," DP leader Kim Han-gil said during a party meeting. "Indiscriminate deregulation can bring on a disaster."

Without "good regulations," society would turn into a jungle where the strong prey on the weak and the winner takes all, leaving the good and vulnerable sheep without protection, Kim said.

"Good regulations guarantee the minimum level of public spirit," he added.

Meanwhile, the government and the ruling Saenuri Party were to hold a meeting later in the day to discuss detailed plans to eradicate unnecessary regulations.

The meeting will be attended by the senior presidential secretaries for state affairs planning and economic affairs, a minister at the prime minister's office, and senior policymakers of the ruling party, a party official said. (Yonhap)

 

 

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