2024-04-17 14:05:21
Korea’s first ‘negative regulation’ applied
Confirmed in 30 days… Expand to 7 locations within the year
For the first time in Korea, four global innovation special zones where negative regulations that ‘do everything except what cannot be done’ are applied will be designated this month.
On the 16th, the Ministry of SMEs and Startups held a regulation-free special zone deliberation committee at the Seoul Government Complex Annex in Jongno-gu, Seoul and announced that Busan, Gangwon, North Chungcheong Province, and Jeollanam-do would be selected as global innovation special zones. These four locations will be finally designated at the Regulatory Freedom Special Zone Committee chaired by the Prime Minister on the 30th of this month.
The global innovation special zone, inspired by the ‘Boston Bio Cluster’ in the United States, is subject to negative regulations. Since the government decided to introduce the system in May last year, 14 local governments competed and 4 were selected.
Each of the four selected local governments’ innovation special zones has specialized projects. Busan proposed the creation of a marine mobility cluster, including the commercialization of eco-friendly ships and parts, and Gangwon plans to establish and demonstrate a remote collaborative consultation system by establishing a healthcare platform using artificial intelligence (AI). North Chungcheong Province aimed to establish a public-led advanced regenerative medicine clinical research network to demonstrate everything from basic research to clinical trials. Jeonnam decided to develop related products and establish technical standards by demonstrating DC distribution network technology.
The selected local governments expressed their expectations. Jeon Hee-seon, head of the Gangwon Province Biohealth Department, said in a local government announcement that day, “Businesses that were difficult to implement within the existing regulatory system due to the Pharmaceutical Affairs Act, etc., will be able to be carried out in the special zone.”
The Ministry of SMEs and Startups plans to increase the number of global innovation special zones to seven within this year. An official from the Ministry of SMEs and Startups said, “We are aiming to select three additional locations in the second half of the year (July to December) to increase the number to seven this year.”
The Ministry of SMEs and Startups plans to improve the technological capabilities of companies and help them advance overseas through designation as a global innovation special zone. Minister of SMEs and Startups Oh Young-joo, who attended the deliberation committee meeting that day, said, “Through the global innovation special zone, we will be able to promote the development of new products and encourage companies to expand overseas.”
Reporter Jeong Seo-young [email protected]
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2024-04-17 14:05:21