South Korea plans to announce a new set of measures early next month to vitalize the services sector and domestic demand through deregulation actions.

Under the plan, business operators no longer need to seek approval to run light-duty trucks or vans of weight capacity of 1.5-tons or under, allowing e-commerce and online shopping malls more freedom in their deliveries. Previously they had to get license for every delivery truck for commercial purpose.

Local business operators have been complaining that they were losing out in competition with multinationals as they do not fall under the same strict regulation on delivery trucks based on gross capacity. Trucks over 1.5 tons and self-owned light-duty trucks, however, would continue to require separate licensing plates.

The government also will lift restrictions on lodging facilities around Daegwallyeong, the mountain pass in the Taebeak Mountains that runs between Pyeongchang and Gangneung in Gangwon Province, to bolster hospitality infrastructure ahead of the 2018 Pyeongchang Winter Olympic Games. Tourism demand in the area has grown recently with visitors increasing for sheep ranch and horse-riding experience.

The government also is mulling to ease the controversial nighttime curfew for minors to prevent them from playing online games. The so-called “shutdown” rule barring kids under the age of 16 from playing online games between midnight and 6 a.m. has raised questions over any effect on curbing game addiction that only ended undermining the gaming industry. Authorities are considering moderating the curfew time upon parents’ approval.

Additionally, the government is considering allowing student loans to local students accepted to foreign university outlets in Korea. Currently, five American universities including New York State University, George Mason University and Utah University in Songdo International Business District have campuses in Korea. Although enrollment quota for Korean nationals initially is limited to 10 percent, the regulation is not kept due to lack of students. But Korean students are currently denied of taking out loans because the schools are foreign entities.

By Cho Si-young and Chun Jong-hong

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]