"Sunset rules" will now apply to all kinds of government regulations, whose effectiveness will be automatically lost or whose feasibility should be examined again after their validity expires.

This policy was made at the Presidential Council on National Competitiveness (PCNC) in its 10th meeting held at Cheong Wa Dae under President Lee Myung-bak''s chairmanship on Jan. 29.

At this year''s first PCNC meeting, participants briefed President Lee on the achievements the council made last year and presented him with policy programs for 2009.

Reviewing the work the council has done since its founding, the President said, "You have a lot of work to do this year, too. It is, of course, important to carry out work in a way that is helpful to all projects designed to overcome the current [economic] crisis. What is more important is to meet the global standards once the crisis is over."

With a view to systematically revising regulations to suit the changing environment, the government decided to apply sunset clauses to all kinds of regulations on registration procedures and administrative processes.

The government will also enhance the effectiveness of the sunset rules by either having regulations invalidated or reviewing their feasibility once again when their validity expires.

To be specific, the government will overhaul or revise about 1,000 economic regulations this year and about 500 social ones next year.

In cooperation with economic organizations such as the Federation of Korean Industries, the government will make a careful study of regulations on about 2,500 pending applications for registrations by June, and apply the sunset rules to these regulations based on the outcome of its study.

In addition, the government will give priority to applying the sunset provisions to a total of 201 suggestions for deregulation that private enterprises have made since Pres. Lee''s inauguration last year. To this end, the government will revise relevant laws and rules.

The private enterprises want regulations to be lifted on the construction of factories in urban areas, parking lots attached to logistics and distribution centers, outdoor ad boards, TV ads for drinking mineral water, and investment by holding companies.

The government plans to closely cooperate with the National Assembly so that the sunset rules are properly legislated.

A council member said, "If the sunset clauses are applied to a wider scope of regulations, it''ll be possible to enhance the rationality and transparency of administrative procedures, because we will be able to make regular analyses of about 5,000 existing regulations. We expect the people to feel the impact of the government''s efforts to review and improve the deregulation issue."