대한민국 Government Policy Update — July 17, 2026
The government is shifting toward a "permit first, regulate later" framework to boost new industries. The Ministry of Planning and Budget has set its sights on a 2045 national development strategy, while the Korea Credit Guarantee Fund has reshuffled its organization to speed up financial support for businesses.
대한민국 Government Policy Update — July 17, 2026
Key Policy and Legislative Changes
Ministry of Planning and Budget discusses regulatory shift for new industries The Ministry of Planning and Budget and the 7th Medium- to Long-Term Strategy Committee discussed moving toward a "permit first, regulate later" framework. This shift aims to encourage innovation by allowing companies to enter the market with new technologies first, with regulatory oversight applied subsequently.
Push for 2045 national development strategy The Ministry of Planning and Budget has made creating a long-term development strategy for 2045—the 100th anniversary of national liberation—its top priority for the second half of the year. The goal is to establish the country as a "rule-setter" in the global order, with 10 major "great transformation" tasks in areas like labor and education to be announced this year.
Korea Credit Guarantee Fund reorganizes for the second half The Korea Credit Guarantee Fund has implemented organizational and personnel changes to tackle economic uncertainty. The focus is on speeding up policy financing, easing funding burdens for small and medium-sized enterprises (SMEs), and expanding financial support for the maritime industry.
Government raises growth forecast to 3% The government has upgraded its 2026 economic growth forecast to 3%. This is the highest growth outlook since 2022, fueled by a semiconductor boom driven by AI demand. The Lee Jae-myung administration is working toward the "3-4-5 Vision": 3% potential growth, reaching the world's top 4 in exports, and achieving specific goals for per-capita national income.
Regulatory Improvements and Administrative Changes
Review of regulations for advanced strategic industries The Ministry of Finance and Economy is reviewing regulations related to advanced strategic industries, as well as firm-size-based regulations and SME support programs, to foster an environment where businesses can invest and grow sustainably.
Approval of Industrial Convergence Regulatory Sandbox The Ministry of Trade, Industry and Energy has approved the second round of "regulatory sandboxes" for 2026, allowing companies with new technologies to operate without certain regulatory restrictions for a set period.
Policy Impact and Upcoming Schedule
Expected benefits of regulatory reform The transition to a "permit first, regulate later" system is expected to lower market entry barriers for startups and tech companies, fostering an innovation-driven ecosystem and boosting global competitiveness.
'10 Great Transformation Tasks' to be announced this year The Ministry of Planning and Budget plans to unveil the specific tasks for its 2045 strategy by the end of the year, covering reforms in labor, education, industry, and infrastructure.
Stronger financial support for SMEs The reorganization of the Korea Credit Guarantee Fund is expected to accelerate policy financing and reduce the financial burden on SMEs and mid-sized firms, with expanded support for strategic sectors like the maritime industry.
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