Gov't Conflict
About 30 percent of businesses were dissatisfied with the current government’s regulatory reform. Only 7.8 percent of businesses felt any satisfaction with the reform.
This was the result of a survey of 560 domestic corporations – 256 large companies and 304 smaller companies – for the “2015 Regulatory Reform Awareness Investigation” from Research & Research requested by the Federation of Korean Industries from March 13 to April 3.
Only 6.1 percent of the corporations responded with “slightly satisfied” about the government’s deregulation reform, while 1.7 percent of them said “very satisfied,” showing the combined rate of only 7.8 percent.
Most of the companies answered “neutral,” while 62.4 percent and 29.8 percent of them said “dissatisfied.”
On the question about how much does one expect for the government’s regulatory reform this year, 12 percent of the respondents said “no expectations at all,” while 33 percent of them said, “not much expectations.” The figures are higher than the 16.6 percent of “some expectations” and the 1.8 percent of “much expectations.” According to the survey, 37.3 percent of the businesses responded “negative” in the practicality of the regulatory reform, while 9.1 percent of them answered “positive.”
About 30.6 percent of them cited “the government’s strong effort for deregulation” in the positive side, and the majority of 73.9 percent said “distrust of the government’s will and ability of the regulatory reform” in the negative side.
For the first priority of the government, 55.5 percent of those who responded said “prompt follow-up measures including the improvement of statute, while 52 percent of them said “the improvement of public servants’ awareness and attitude in regulatory reform.”
By the first priority of the sector, 40.2 percent of them said “regulation on large companies,” followed by labor regulation with 32.6 percent, and financial regulation with 28.1 percent.