Seoul:President Lee Jae Myung is set to participate in a significant meeting this week focusing on deregulation to foster advanced industries and promote balanced development, as announced by his office on Tuesday.

According to Yonhap News Agency, the second plenary meeting of the regulation rationalization committee is scheduled for Friday, following the inaugural session in April. This meeting aims to explore strategies to ease regulations in support of the Lee administration's development agenda, which emphasizes regional growth and the pursuit of global leadership in cutting-edge industries.

The discussions will include identifying solutions to regulatory barriers affecting key growth-engine sectors such as robotics, semiconductors, artificial intelligence (AI) data centers, self-driving vehicles, and biotechnology. Additionally, the meeting will address the need to streamline unnecessary regulations to enhance the growth of venture companies.

The gathering on Friday will see participation from officials at Cheong Wa Dae and various government ministries, including finance, science, interior, industry, health, labor, and land. Experts from local companies and the broader private sector are also expected to contribute to the discussions.