SEOUL– President Yoon Suk-yeol pledged Monday to support the growth of middle-market companies by enacting regulatory and legal reforms.

Yoon made the remark in a speech marking the eighth Day of Middle-Market Entrepreneurs, saying these businesses have buttressed the country’s economy at a time of high prices, high interest rates and a weak currency.

“We will improve regulations without fail so that unnecessary and improper regulations do not stand in the way of your sweat and passion,” he said during an event marking the day at a hotel in Seoul.

He also promised tax reforms, the creation of funds, and a package of support measures in research and development, financing, and export marketing.

Yoon further vowed to quickly realize his administration’s goal of turning a special temporary law promoting middle-market companies into a standing law to provide a stable and institutional framework for their systematic growth.

Source: Yonhap News Agency