South Korea's finance minister, Kim Dong-yeon, says the government will getting rid of the red tape that's been holding back the so-called "sharing economy" -- things like ride-sharing and renting out accomodation.
In an interview with Yonhap News published on Sunday, Minister Kim said he will fight for regulatory reform and take on the vested interests that have been holding it back.
Kim did not mention specific companies in the interview, but there has been fierce opposition, for example, from taxi drivers to ride-sharing apps like Uber.
Uber, in fact, saw its local venture regulated out of existence.
The rules are also strict on services like Air B-N-B.
As it moves forward, though, Kim said he wants to make sure the government gives clear signals about what it's doing so it doesn't confuse the market.
