SEOUL, Nov. 2 (Korea Bizwire) — The government has decided to loosen regulations regarding businesses that offer sports simulation services to consumers.
The government will also encourage investment in the public sector by factoring in investment efforts by public entities in the realm of social overhead capital (SOC).
The government held a minister-level meeting presided by Finance Minister Kim Dong-yeon to announce such proposed plans aimed at expanding SOC investments in society.
The proposal seeks to review laws relating to sports facilities that are currently highly regulated.
Critics say that screen baseball and golf facilities that offer users simulated experiences are burdened by excessive restrictions, requiring businesses to stick to guidelines on par with those enforced on outdoor sports facilities.
As such, the government has decided to set separate criteria for indoor simulated experience facilities so that they are regulated based on a different set of conditions.
Regulations on campsites will also be relaxed, allowing for abandoned school buildings and unused building facilities to double as campgrounds.
In the comprehensive evaluations of public institutions and local public enterprises to be implemented next year, efforts made by public officials to invest in the local community’s SOC will be highly regarded.
The purpose of this measure is to induce SOC investments by public entities. In addition, the government plans to incentivize land donations made by private corporations.
H. S. Seo (email@example.com)