Regulatory Cost Management System
- Regulatory cost management system
The Korean regulatory cost management system, termed ‘Cost-In, Cost-Out’ (CICO), revises existing regulations to reduce the public’s cost burden on a new or reinforced regulation that imposes additional costs on the business activities of companies, organizations and individuals.
- Verification and evaluation of regulatory cost-benefit analyses
The Center reviews the propriety of cost-benefit analysis results drafted and submitted by various ministries and calls for the necessary revisions in order to enhance the effectiveness of the regulatory impact analysis system and contribution to the improvement of regulation quality.
- Consulting and education
The Center provides competent ministries with educational and training programs and consultation on cost-benefit analysis to strengthen the effectiveness of regulatory reform systems.