South Korean president promises deregulation, reforms

SEOUL – South Korean President Yoon Suk-yeol promised on Thursday to remove outdated regulations hindering new businesses while calling for an immediate start to reforming labour practices, the education system and pension programmes.

Yoon, in his second month in office, also said at an event introducing his government’s economic policy framework that his government would lower the living cost by helping reduce private sector production costs.

(Reporting by Choonsik Yoo; Editing by Christopher Cushing)