Some argue for the need for active deregulation to secure new growth engines for our economy, while others argue that deregulation causes market inequality and increases income inequality. However, there are few empirical studies on how deregulation actually affects economic distribution. Additionally, most studies focus only on specific cases at the individual country level, so the current understanding of how the effects of regulation impact distribution remains limited. In this context, this study attempts an empirical analysis of the relationship between the degree of government regulation and income inequality. Following a regression analysis examining the relationship between the regulatory index and the Gini coefficient of 38 OECD countries, it was found that the degree of income inequality intensifies as the level of government regulation decreases. However, it is still rather tenous to assume that this inverse relationship between government regulation and income inequality can be observed with a high degree of clarity since this result was confirmed at a relatively low level of statistical significance. While an increase in regulatory levels is difficult to judge in relation to positive outcomes concerning lessening income inequality gaps, the idea that deregulation will undermine social equity is not necessarily true either. The results of this empirical analysis emphasize the need for a balanced and strategic approach to prevent impairment of social equity while also pursuing the goal of economic growth in the process of promoting regulatory reform including deregulation. This paper recommends that more detailed deregulation measures should be designed to coordinate the extremes of "economic growth" and "equilibrium". In particular, policies designed to offset the negative distribution effects of deregulation should be further discussed in greater depth before their implementation.