Regulatory reform is an important nation-wide tasks that have been promoted by every government in Korea. Park Geun-Hye government is pursuing an aggressive regulatory reform since the second year in power. Government tries to establish more effective regulatory reform tools such as ‘Cost-in, Cost-out’, Red tape Report, negative-style regulation design, etc. in Amendments of Regulatory Reform Act. Regulatory Reform System has not been functioned as expected due to a lack of professional man power and other resources which are essential materials for proper regulatory reform. There are also loopholes that have been excluded from the reform for a long time such as Assembly-introduced Bills, regulations on metropolitan area, services industry regulations. It is a ubiquitous phenomenon like misunderstanding of regulatory reform, existing unreasonable regulations and a conflict of interest on regulation reform. At this situation, the most immediate tasks are stable settlement of new-introduced advanced regulatory reform tools through Amendments of Regulatory Reform Act which can provide each government department an incentive to pursue aregulatory reform initiative. Government should review the real effects of so-called economic-democratization at the origin in cold manners.