Ministry of SMEs and Startups Discusses Activation of Regulatory Free Zones... Strengthening Communication with Lead Supervisory Agencies

14 Regional Lead Agencies Council Meeting Held
Special Zone Directors: "We Will Ensure Innovation Resources and Capabilities Are United"

The Ministry of SMEs and Startups announced on the afternoon of the 29th that it held a consultative meeting with the general supervising institutions of regulatory free zones from 14 cities and provinces nationwide at the President Hotel in Jung-gu, Seoul.

On June 29, 2020, the Regulatory Free Zone Deliberation Committee is held at the Post Tower conference room in Jung-gu, Seoul. Photo by Hyunmin Kim kimhyun81@

This consultative meeting was organized to strengthen communication with the general supervising institutions of regulatory free zones, such as Technoparks (TP) and research institutes, and to discuss policy directions and ideas for establishing regulatory free zones as regional innovation ecosystems.

At the meeting, discussions were held on the direction of the zones based on strategic and connectivity aspects, including strengthening links with industrial and regional policies, creating zones through collaboration at the ultra-wide metropolitan government level, as well as improving the planning and selection process, activating networks among zones, and revising systems to ensure the implementation of regulatory improvements.

The general supervising institutions attending the meeting stated, “Based on the experience and know-how accumulated through the operation and management of the zones so far, we will work together to establish regulatory free zones as a more advanced core of regulatory sandboxes.”

Kim Hong-ju, Head of the Regulatory Free Zone Innovation Planning Group, emphasized, “Based on the opinions presented through the consultative meeting, we will further strengthen cooperation and collaboration between the Ministry of SMEs and Startups and local governments to concentrate regional innovation resources and capabilities,” adding, “We will revise necessary systems to enhance strategic aspects, improve operational efficiency, and promote outcomes to ensure the sustainability of regulatory free zones.”

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