Industry Ministry announces 1st set of ‘regulatory sandbox’ cases for new business models 2019-02-11
Trade, Industry and Energy Minister Sung Yun-mo presided over the first committee meeting on reviewing regulatory exemptions for new business models in Seoul on February 11.
The meeting was held based on the newly-launched “regulatory sandbox” bill with a goal of bolstering innovation-driven new industries beyond the current regulatory challenges.
After deliberations, the committee decided to approve regulatory exemption requests for three demonstration projects that are prohibited under the current law. These projects are the installation and operation of hydrogen stations in downtown Seoul where different sets of regulations have deterred new business creation, the provision of personalized healthcare services through direct-to-consumer genome analysis, and digital bus advertising.
It also agreed to grant temporary permission for the market launch of app-based electric car charging outlets, which is not prohibited but subject to ambiguous laws.
The review was attended by vice ministerial-level officials from the Ministry of Economy and Finance and other government agencies, as well as various industry experts, including Korea Consumer Agency (KCA) President Lee Hee-sook and Yujin Robot CTO Park Seong-ju.
- Minister Sung discusses with Korean business representatives in Kazakhstan 2019-04-22
- Minister Sung convenes breakfast meeting with Korean business leaders in Uzbekistan 2019-04-19
- Trade Minister Yoo meets with ADB President Nakao in Manila 2019-04-17
- Korea, Philippines hold trade ministerial meeting in Manila 2019-04-17
- Minister Sung and Turkmen Finance Minister vow to step up cooperation in industry and energy 2019-04-16
- Trade Minister Yoo meets with US Senator Rob Portman in Seoul 2019-04-16
- Trade Minister Yoo meets with UK Ambassador to Korea Simon Smith 2019-04-11
- Korea, EU trade chiefs co-chair 8th FTA Trade Committee Meeting in Seoul 2019-04-09