The government will ease over one hundred regulations concerning nearly 90 types of businesses to encourage start-ups in the country.

At a meeting with officials Wednesday, Prime Minister Lee Nak-yon said start-ups create new industries and jobs and that they are evidence of economic vitality.

Some of the new regulatory reforms include relaxing requirements for small group tourism packages targeting foreigners and customizing short-term insurance programs.

The government will streamline excessive red tape on expertise and experience required for people to open businesses and ease regulations that limit individuals lacking facilities and equipment from opening start-ups.

The government has also introduced measures to simplify the business registration process.