President Moon promotes regulatory sandbox initiative, underlining its significance
- 5 years ago
President Moon Jae-in chaired the sixth cabinet meeting of 2019 this morning,... using the opportunity to address the significance of and his expectations for the "regulatory sandbox" that's being implemented in South Korea for the first time.
Take a look at what he had to say.
"The 'Regulatory Sandbox' initiative is the laboratory of an innovative economy. As long as new tech and services don't pose any danger to the lives, safety, and health of the people, it's key to create more opportunities for businesses to try new things under the principle of approval-first, regulation-after."
The meeting comes a day after the Ministry of Trade, Industry and Energy announced its approval of regulatory exemption applications from four companies.
President Moon stressed the government needs to be a strong supporter of South Korean companies trying to innovate by leveraging what he calls the world's most advanced regulatory sandbox system.
He also urged the cabinet to promote the system so more companies can take advantage of it,... while informing the public of its benefits.
Take a look at what he had to say.
"The 'Regulatory Sandbox' initiative is the laboratory of an innovative economy. As long as new tech and services don't pose any danger to the lives, safety, and health of the people, it's key to create more opportunities for businesses to try new things under the principle of approval-first, regulation-after."
The meeting comes a day after the Ministry of Trade, Industry and Energy announced its approval of regulatory exemption applications from four companies.
President Moon stressed the government needs to be a strong supporter of South Korean companies trying to innovate by leveraging what he calls the world's most advanced regulatory sandbox system.
He also urged the cabinet to promote the system so more companies can take advantage of it,... while informing the public of its benefits.