SEOUL, May 25 (UPI) -- South Korea President Roh Moo-hyun announced Tuesday his administration will expand its deregulation efforts to aid businesses.
"A pan-governmental body will be established under the wing of the presidential commission on deregulation to speed up the process, if necessary, so that the president can directly check the details," he told a group of business leaders called to discuss ways to revive the faltering economy.
The Korea Times reported that while Roh was promoting business investment, he was also pushing for greater managerial transparency in the country's major conglomerates.
Heads of the top business groups said they would increase their combined investment about 34 percent from last year.
Those attending the meeting included Samsung Group Chairman Lee Kun-hee, LG Group Chairman Koo Bon-moo, Hyundai Motor Co. Chairman Chung Mong-Koo, and SK Corp. Chairman Chey Tae-won.
