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VitalKorea
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#economic column

2 posts

Related Tags

#regulatory reform #economic growth #construction industry #Serious Accidents Punishment Act #safety policy #housing supply #Gwangju Metropolitan City #complex shopping mall #traditional market #youth exodus
Illustration of a driver pushing a car instead of driving, symbolizing risk avoidance behavior in the construction industry
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Towards a 0% Start Rate: Stopping the Economy in the Name of Safety

South Korea is challenging itself to a 0% construction start rate to achieve a 0% industrial accident rate. We diagnose the paralysis of construction sites and the supply cliff caused by punishment-centered regulations like the Serious Accidents Punishment Act, and the economic repercussions this will entail.

Sunset over a Korean city, symbolizing the twilight of an over-regulated economy
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The Trap of Regulation and Vested Interests: Lessons from Gwangju and Korea's Future

Gwangju's population has fallen below 1.4 million for the first time in 21 years. The result of 10 years of blocking large complex shopping malls under the pretext of 'protecting traditional markets' is disastrous. Gwangju's failure foreshadows a grim future for all of South Korea trapped in regulations and vested interest cartels.