The government is considering easing controls on the nation's top 30 business groups, citing progress conglomerates have made in the aftermath of the 1997 financial crisis.
Deputy Prime Minister Jin Nyum recently said that his ministry will consider lifting regulations, including simplifying the system for designating the top 30 conglomerates known as chaebol and changing designation guidelines.
Jin, however, conditioned the further deregulation on the introduction of class action suits and other measures big businesses should take to guarantee management transparency.