"Submit Applications Directly on the Website for the Industrial Convergence Regulatory Sandbox"

Real-time Monitoring of Automatic Reception Desk Opening and Application Status
"Untact Expansion Due to COVID-19... Simplified Application Procedures for Companies"

Seok Young-cheol, President of the Korea Institute for Advancement of Technology (KIAT). (Photo by Korea Institute for Advancement of Technology)

[Asia Economy Reporter Moon Chaeseok] It has become easier to apply for the Industrial Convergence Regulatory Sandbox service through the website. The procedures for applying for demonstration exceptions, temporary permits, and rapid regulatory confirmation are expected to become more convenient.

On the 1st, the Korea Institute for Advancement of Technology (KIAT) announced that it will open the Industrial Convergence Regulatory Sandbox website, improved with a user-centered design, starting this month.

The Korean-style Regulatory Sandbox, implemented since January last year, is a system that exempts or postpones existing regulations when launching new products or services.

Currently, it is divided into four sectors: Industrial Convergence (Ministry of Trade, Industry and Energy), Regional Innovation (Ministry of SMEs and Startups), Financial Innovation (Financial Services Commission), and Information and Communication Technology (Ministry of Science and ICT).

The Industrial Convergence Regulatory Sandbox is the first among the four sandbox secretariats to open an automated online application window, establishing a non-face-to-face and real-time response system. KIAT operates the secretariat responsible for handling applications and processing for the Industrial Convergence Regulatory Sandbox.

The newly revamped website features a one-stop application system. After signing up as a member, applicants can submit documents online.

Unlike the previous email-based application, applicants can check the status of their application in real time through the My Page management function immediately after submission.

Communication channels such as consultation requests and inquiry desks, which were previously conducted by phone, will also be conveniently and quickly handled online in a non-face-to-face manner.

KIAT plans to collect user feedback to improve the system, focusing on user convenience.

Seok Young-cheol, President of KIAT, said, "With the spread of social distancing and non-face-to-face lifestyles to prevent the spread of COVID-19, we will spare no support from the initial application stage so that companies can easily use the Regulatory Sandbox without unnecessary visit consultations."

This content was produced with the assistance of AI translation services.