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Presidential Council on National Competitiveness Announces Plans to Deregulate Land Use

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저작자 미상 (저작물 2267374 건)

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공표년도

창작년도

2008-10-30

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The Lee Myung-bak administration is making its long-awaited move to lift regulations that have blocked industrial land development.
President Lee held a meeting with his Presidential Council on National Competitiveness on Thursday to lay out the plan that would pave the way toward industrializing more than two-thousand square kilometers nationwide. The total amount is larger than Jeju Island with much of it in areas surrounding the capital Seoul.
One regulation that would be scrapped prevents companies with more than 300 employees from building or renovating factories in the Seoul area. The council says the lands in question are unproductive or unused and wants them to be turned into industrial lots in five years. Council Chairman Sakong Il said he expects the changes will keep investment capital from going abroad.
The Federation of Korean Industries‚ a lobby group‚ claims unreasonable development regulations in the Seoul area alone have prevented more than 22 trillion won or more than 17 billion US dollars in capital investments. The FKI told Arirang News that deregulating the areas would lead to more than 5 trillion won in immediate investments.
President Lee said at the meeting strategic responses are needed to boost domestic consumption considering the global economic situation.
"Considering that the global economic situation will continue for some time‚ strategic countermeasures are necessary for domestic demand In this regard‚ the Council on National Competitiveness established measures to improve efficiency in land use."
Critics say the plan would hinder balanced national development as more capital would be invested in the Seoul area instead of other regions. Such arguments are expected to hinder National Assembly approval. The Lee administration says economic gains made by developing the Seoul metropolitan area will be used to underwrite regional development programs.
[Reporter : kimbumsoo@arirang.co.kr] "Responding to Korean people's fear that the national economy will fall into recession following the US and Japan‚ President Lee also asked for Korean citizens' trust and support as his administration prepares defensive measures against the impact of the global financial meltdown.
Kim Bumsoo‚ Arirang News."
Reporter : kimbumsoo@arirangtv.com

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