President Lee Jae Myung emphasized the need to streamline financial regulations in an effort to boost the economy and revive livelihoods. 

Lee made the statement on Thursday while presiding over a strategy meeting at the presidential office in Seoul's Yongsan District with experts and business leaders in attendance.

The president said that though the government's role involves promoting or restricting activities in various sectors, bureaucrats tend to act based on convenience and fixed mindsets, which can hinder progress.

He highlighted cases of stakeholder clash, saying that relaxing renewable energy regulations could bring neighborhood blight while a few businesses disproportionately benefit.

Lee stressed the importance of adjusting and mediating such conflicts, saying that it is the government’s role to manage such issues effectively rather than imposing regulations to avoid them.