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http://dx.doi.org/10.14400/JDC.2019.17.3.073

A Comparative Study on the Korean Type Regulatory Sandbox System : the Industrial Fusion Promotion Act, the Information and Communication Convergence Act, the Financial Innovation Act, A Study on the Regional Special Districts Act  

Choi, Ho-Sung (Division of Korea Association of University, Research Institute and Industry)
Kim, Jung-Dae (Division of Regional Business Innovation Policy, Ministry of SMEs and Startups)
Publication Information
Journal of Digital Convergence / v.17, no.3, 2019 , pp. 73-78 More about this Journal
Abstract
Recently, there is a need to introduce a Korean-style restriction sandbox system that exempts or suspends existing regulations so that new products or services based on new technologies can be commercialized without restrictions. In response, the government reorganized the relevant statutes to promptly check regulations centering on four fields, including industrial convergence, ICT, FinTech, and regional innovation growth, and to allow experimental, proof and market releases by setting certain conditions(zone, period, scale, etc.). However, despite the same regulatory sandbox application, depending on the nature of the field applied, differences in application subject, whether application of regulatory specifics, system of push ahead decision-making and whether support of financial and taxation are shown. This research is intended to present efficient operation measures for successful settling of Korean-style regulation sandboxes by comparing and analyzing, centering on the Industrial Fusion Promotion Act in the Industrial Convergence Field, ICT field's Information and Communication Convergence Act, FinTech field's Financial Innovation Act and Regional Special Zone Act in the Regional Innovation and Growth Sector.
Keywords
Industrial Convergence Promotion Act; Information and Communication Convergence Act; Financial Innovation Act; Regional Special Zone Act; Regulatory Freedom Special Zone; and Regulation Innovation Triple Set;
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Times Cited By KSCI : 2  (Citation Analysis)
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