Regional Regulatory Sandbox and a Regulation-Free Special Zone System to be implemented
- Division
- International Cooperation Division
- Date
- 2019.04.17
- Writer
- 국제협력담당관
- Headline
Minister Park Young Sun of the Ministry of SMEs and Startups (hereafter “MSS”) held the 1st Deliberation Committee on Regulation Exception, Etc. (hereafter “Committee”) on April 17, 2019, the day when the Regional Special Zone Act, the basic law of the regulation-free special zone* system, was enforced. In the Committee, civil committee members were appointed, while the future direction on the implementation of the system was discussed.
* A zone designated under the special zone plan that reflects details on the regulatory exemptions for fostering local industries, including the regulatory sandbox, and the investment plans of local municipalities and the government
To brief on the progress made up to date, Minister Park explained that the MSS had prepared for the implementation of the system as planned by amending the subordinate laws and forming a legal committee after the revision of the Regional Special Zone Act while introducing and promoting the system to non-metropolitan cities and provinces, companies, and the public. She also stated that the MSS supported the setup of the special zone plan through a preliminary consulting process, while experts and relevant government departments reviewed the special zone plans of local municipalities and selected ten special zones that would be subject to the first round of deliberations.
The local municipalities of the special zone plans subject to the first round of deliberations will apply for their designations to the MSS by the end of May after going through a process* for collecting the opinions of their residents for 30 days or longer.
Afterward, their applications will undergo deliberations by the Committee and then be brought up to the Regulation-Free Special Zone Committee for designation. Given such process, she asked for close cooperation from the government members and the active participation of the civil members of the Committee.
Moreover, Minister Park stated that the special zone plans that were not included in the first round of deliberations would also undergo swift consulting and seek enhancement to proceed with the second round of the selection process.
As the regulation-free special zone aims to make utmost use of local industrial and research facilities and foster new industries through the application of the regional regulatory sandbox, she asked local municipalities to actively make efforts in her regard and stated that the government would also extend much support including consulting for the system.
* A zone designated under the special zone plan that reflects details on the regulatory exemptions for fostering local industries, including the regulatory sandbox, and the investment plans of local municipalities and the government
To brief on the progress made up to date, Minister Park explained that the MSS had prepared for the implementation of the system as planned by amending the subordinate laws and forming a legal committee after the revision of the Regional Special Zone Act while introducing and promoting the system to non-metropolitan cities and provinces, companies, and the public. She also stated that the MSS supported the setup of the special zone plan through a preliminary consulting process, while experts and relevant government departments reviewed the special zone plans of local municipalities and selected ten special zones that would be subject to the first round of deliberations.
The local municipalities of the special zone plans subject to the first round of deliberations will apply for their designations to the MSS by the end of May after going through a process* for collecting the opinions of their residents for 30 days or longer.
Afterward, their applications will undergo deliberations by the Committee and then be brought up to the Regulation-Free Special Zone Committee for designation. Given such process, she asked for close cooperation from the government members and the active participation of the civil members of the Committee.
Moreover, Minister Park stated that the special zone plans that were not included in the first round of deliberations would also undergo swift consulting and seek enhancement to proceed with the second round of the selection process.
As the regulation-free special zone aims to make utmost use of local industrial and research facilities and foster new industries through the application of the regional regulatory sandbox, she asked local municipalities to actively make efforts in her regard and stated that the government would also extend much support including consulting for the system.