Excessive red tape forces local firms to remain small: report
Aug 3, 2016
Despite years of government efforts to remove regulations that hinder investment and employment, too many old and new regulations continue to discourage business activities in South Korea, some even discouraging local firms from expanding their size, a report said Wednesday.According to the report from the Federation of Korean Industries, a business lobby that represents the country's top 600 companies, large firms were currently subject to 81 separate regulations under 39 laws as of end-July.Th