The HanPil (한필) Occasional Paper Series on Korea and the Philippines is published electronically by the University of the Philippines Korea Research Center. All papers included in the current volume underwent a single-blind peer review process. The HanPil is published annually. Published by UP Korea Research Center Printed in Quezon City, Metro Manila, Philippines Cover design by Elsa Marie Or Copyright © 2018 by the UP KRC and authors All rights reserved, except that authorization is given herewith to academic institutions and educators to reproduce the articles herein for academic use as long as appropriate credit is given both to the authors and to this publication. The views expressed in each paper are those of the authors of the paper. They do not necessarily represent or reflect the views of the UP KRC, its Editorial Committee, or of the University of the Philippines. ISSN (Online) 2546-0234 ISSN (Print) 2546-0226 The papers were prepared for the research project of the Korea Research Center at the University of the Philippines (UP KRC) supported by the Academy of Korean Studies Grant (AKS-2015-INC-2230012). Earlier version of the papers was presented at the 2017 UP KRC Workshop and Roundtable held at UP-CIDS Conference Hall, Ang Bahay ng Alumni, Lower Ground Floor, University of the Philippines, Diliman, Quezon City on July 25, 2017. UP Korea Research Center Address: UP-CIDS Lower Ground Floor, Ang Bahay ng Alumni, Magsaysay Avenue, University of the Philippines, Diliman, Quezon City, Philippines Tel : +63 2 981 8500 loc 4266 Email :
[email protected] Facebook: www.facebook.com/UPKRC TABLE OF CONTENTS Foreword i Shaping A New Institutional Regime for Regulatory Reform 01 In the Philippines: Lessons from South Korea Eduardo T.