Lee So-young pledges deregulation push for South Korea’s startups and small firms

  • Lee So-young pledged regulatory reform and direct mediation for startups and venture firms.
  • Six years in the National Assembly included work on small-business and export-support budgets.
  • Lee plans meetings with business groups while preparing for her confirmation hearing.

Lee So-young, nominee for minister of SMEs and startups, pledged on her first day of work to overhaul regulations she says are restricting venture firms and startups. She said the ministry would directly mediate conflicts between new and established industries, citing the Tada case as an example of what should not happen again in South Korea. Lee also proposed spreading gains from the unprecedented export boom led by conglomerates, including chipmakers, to smaller companies, while developing measures for small merchants facing population decline and changing consumption. Responding to questions about her expertise, she pointed to six years in the National Assembly and budget work covering small-business recovery, neighborhood-store spending, artificial intelligence transformation for smaller firms and export support. She plans to meet business associations and organizations before her confirmation hearing.

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