Ministry of SMEs and Startups Publishes 'Regulatory Sandbox Casebook' Featuring 28 Representative Cases

Regulatory Sandbox Core Regulatory Exemption Casebook Cover
Photo by Ministry of SMEs and Startups

[Asia Economy Reporter Junhyung Lee] A casebook has been produced to help small and medium-sized enterprises (SMEs) and venture companies struggling with regulations to promote new technologies and new businesses. The book contains 28 carefully selected cases of regulatory exemptions that can drive regulatory innovation.

The Ministry of SMEs and Startups announced on the 25th that it has published the "Regulatory Free Zone Regulatory Exemption Casebook," where anyone can easily find the core regulatory exemptions granted to regulatory free zones.

The regulatory free zone system is designed to relax regulations related to new businesses faced by regions and companies as a package. So far, a total of 24 regulatory free zones have been designated, and a total of 132 regulatory exemptions have been granted to these zones. Since its introduction in April 2019, it has attracted investments totaling 675.7 billion KRW and created 1,255 jobs, producing results that serve as a foundation for regional development.

The casebook is divided into five fields according to the type of regulation and related industries: personal information, mobility, bio/medical, energy, and information and communication technology (ICT). Each case is explained focusing on existing difficulties, details of the regulatory exemption, and expected effects. To make the content of the regulatory exemptions easier to understand, illustrations, infographics, and terminology explanations are included throughout the book.

Casebook Table of Contents
Photo by Ministry of SMEs and Startups

This casebook introduces the overall flow of the regulatory free zones from the background of applying for core regulatory exemptions to specific exemption details and expected effects, which is expected to greatly help the public and companies understand the regulatory exemptions in general.

Kim Hee-cheon, head of the Regulatory Free Zone Planning Team at the Ministry of SMEs and Startups, stated, "Regulatory free zones have driven visible achievements for regional innovative growth, such as attracting investments and creating jobs." He added, "We hope this casebook will enhance understanding of regulatory free zones and regulatory exemptions and help those struggling due to regulations."

The casebook can be accessed for free on the Regulatory Free Zone website (rfz.go.kr).

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