A regulatory cost management system in July 2014 in order to initiate more pragmatic regulatory reforms
The inadequate accomplishments of preceding regulatory reforms promoted the Korean government to adopt a regulatory cost management system in July 2014 in order to initiate more pragmatic regulatory reforms that are tangible to both the public and private sector. The adoption entailed the development of regulatory cost analysis methodologies and research on regulatory regimes and management systems. As such, the Center formulates analysis methodologies and guidelines for the regulatory cost management system and undertakes studies on rational regulatory reform and exemplary foreign cases. By doing so, the Center intends to provide in-depth studies on relevant systems to promote substantial regulatory reform.