– 3 years of regulatory sandbox implementation, publication of regulatory sandbox white paper –

– Summary of development process and performance in the three years of implementation of the regulatory sandbox –
– Introduction of 80 major approval cases with high sensitivity to companies and the public –

◈ A total of 19 cases were approved from '22.January to '632.January, resulting in investment attraction of KRW 4 billion and increase in sales of KRW 8,837 billion

◈ In the meantime, continuous improvement of the system, such as the request system for changing additional conditions and the establishment of the request system for the revision of regulatory laws

◈ Through approval tasks such as mobile driver's license, autonomous driving delivery robot, loan comparison service, demand-response bus, shared kitchen, and special regulation-free zone (29), it serves as a testing ground for new technology innovation and a breakthrough in conflict tasks and Contribute to improving the convenience of life

 

□ 5 regulatory sandboxes including the Office of Government Policy Coordination and Ministry of Science and ICT, Ministry of Trade, Industry and Energy, Financial Services Commission, Ministry of SMEs and Startups, Ministry of Land, Infrastructure, and Transport 3 years To commemorate the occasion, we published “Regulatory Sandbox White Paper, Let New Technologies See the Light”.

ㅇ The 「Regulatory Sandbox White Paper」 summarizes the contents and development process of the 'Korean regulatory sandbox' system and the achievements achieved over the past three years, and shares cases of major approved companies to help the public and companies understand the regulatory sandbox. Published to further accelerate regulatory innovation in new industries and technologies.

□ 「Regulatory Sandbox White Paper」 is composed of two parts: Part 1, 'The Path of the Regulatory Sandbox,' and Part 2, 'Regulatory Sandbox Approval Cases'.

ㅇ Part 1 explains the background, significance and progress of the introduction of the regulatory sandbox system, the implementation system, the application process, etc., and describes in detail the approval results and economic performance.

ㅇ Part 2 introduces 6 approved cases in 80 areas, including ICT convergence, industrial convergence, innovative finance, special regulatory free zone, smart city, and special R&D zone.

ㅇ In particular, in Part 2, the difficulties experienced by innovative companies in the business process due to existing regulations and the process of using the regulatory sandbox system are introduced in detail, which is expected to be of very practical help to innovative companies facing similar problems.

< Regulatory Sandbox White Paper >

<Part 1> The Path of the Regulatory Sandbox

① Overview (background, significance, progress, etc.)
② Introduction of the system (promotion system, application procedure, support for approved companies, etc.)
③ Approval performance and performance (investment attraction, sales increase, job creation, etc.)

<Part 2> Major Approval Cases of Regulatory Sandbox

① (ICT Convergence) 15 cases including mobile driver's license verification service
② (Industrial Convergence) 15 cases including autonomous driving delivery robots
③ (Innovative Finance) 15 cases including loan comparison service for financial institutions
④ (Smart City) 4 cases including demand-response bus
⑤ (Special R&D zone) 2 cases including illegal drone response technology
⑥ (Regulatory Free Zone) 29 cases including blockchain-based maritime logistics platform

□ Director Gu Yun-cheol of the Office of Government Policy Coordination said in the publication address, “The regulatory sandbox system has served as a 'experimental ground for new technology innovation' and 'a breakthrough in conflicting tasks' for the past three years, and has also improved the 'convenience of people's lives'.”

ㅇ He said, "I will make efforts to contribute to Korea's rise to the ranks of advanced countries by promoting the development of new technologies and industries through the regulatory sandbox."

 

☞ Source: Korea Policy Briefing

☞ Download 「Regulatory Sandbox White Paper, Let New Technologies See the Light」