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Korean government eases regulation for LNG bunkering

23 Jan 2018

The South Korea government Monday says it will change 38 laws and regulations to help new sectors take off.

President Moon Jae-in realised “rigid government regulations” were barring emerging sectors from reaching their full potential, according to Yonhap News Agency.

The new measures will allow new products and technologies to enter the market first before considering whether or not regulations are necessary.

The government is also considering introducing a "regulatory sandbox" for new entries to conduct business without regulations for a specific period of time before adding regulations.

The above activity includes bunkering operations of liquefied natural gas (LNG) and other types of alternative marine fuels, state government officials.

Changes to the new regulations are scheduled to be completed by March this year.

Published: 23 January, 2018
 

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