'Comprehensive Negative Regulation First Introduced' Creation of Global Innovation Zones

Reforming Demonstration and Certification to Meet Global Standards
Establishing 10 Special Zones for AI, Bio, etc. by 2027
"Building a Platform of Opportunities for Future Generations"

The government will establish 10 "Global Innovation Zones," the first in the country to apply "comprehensive negative regulation." Comprehensive negative regulation allows everything except explicitly listed prohibitions. The Global Innovation Zones are expanded and reorganized from the existing Regulatory Free Zones to create areas where global standards apply to regulation, demonstration, certification, approval, and insurance for new product development and overseas expansion in future technology fields.

On the 8th, the Ministry of SMEs and Startups announced the "Global Innovation Zone Establishment Plan" centered on this content at the "233rd Foreign Economic Ministers' Meeting" chaired by the Deputy Prime Minister for Economy. Afterwards, they explained the background and key details to experts at the Foreign Correspondents' Club in the Press Center. Minister Lee Young of the Ministry of SMEs and Startups, Kim Moo-hwan, President of POSTECH, Yoon Dong-seop, Director of Yonsei Medical Center, and Bae Kyung-eun, CEO of Sanofi Korea, attended.

During President Yoon Seok-yeol's visit to the United States last month, partnerships were established with U.S. innovation institutions through events such as the "Korea-U.S. Cluster Round Table." Based on this cooperative foundation, the plan aims to create a Korean-style innovation cluster and build a platform. Economic ripple effects are expected, and since there are many capable SMEs and advanced fields where institutional arrangements lag behind technology, the plan is to pilot 2 to 3 zones this year and expand to 10 zones by region by 2027.

The Ministry of SMEs and Startups plans to implement in the innovation zones ▲ the country's first comprehensive negative regulation ▲ a demonstration environment transcending borders and spaces ▲ support for export-tailored overseas certification from the product planning stage ▲ immediate institutional improvement upon safety verification ▲ establishment of new industry-specific insurance for safe development of advanced products. In particular, the Ministry explained that negative regulation will be a source of hope for young and creative domestic advanced technology personnel. Additionally, a comprehensive support system for global expansion and scale-up of companies residing in the innovation zones has been prepared.

Minister Lee Young said, "Through the Global Innovation Zones, we will innovate regulations that do not meet global standards and the times," and added, "We will change obstacles that hinder our companies from competing overseas into global standards and create a platform of opportunity for future generations."

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