Ministry of SMEs to Host "Regulatory Free Zone Innovation Week"

Awards Presented to 27 Contributors to Regulatory Free Zone Development

The Ministry of SMEs and Startups announced that it will host the "2026 Regulatory Free Zone Innovation Week" event for two days from August 31 to September 1 at Osco in Cheongju. This event is designed to explore the future of new industries through regulatory innovation, share the achievements and growth strategies of Regulatory Free Zones, and strengthen interregional cooperation networks.

The Regulatory Free Zone system allows local governments to apply for designation, after which the relevant ministries conduct consultations, and for a certain period, participating businesses in new technologies and new industries within the designated zones are granted regulatory exemptions. After various demonstration activities and upon confirming safety and other requirements, regulations can be rationalized. Since the introduction of the system in 2019, the Ministry has designated a total of 57 Regulatory Free Zones. Of the 77 legislative requests for regulatory amendments generated by completed regulatory demonstrations, 63 legal provisions have been revised to date.

This year, a new type of inter-regional Regulatory Free Zone was introduced, in which two or more local governments jointly demonstrate regulatory packages linked to relevant industrial supply chains. There are two scheduled designations: the "Smart Agriculture Zone," a joint effort among Jeonnam-Gwangju, Jeonbuk, and Chungnam, and the "New Marine Leisure Zone," a collaboration between Gyeongbuk and Busan. Through these, fragmented regional regulations can now be addressed in a connected manner. Additionally, integration of local resources and the extension of the value chain will enable the commercialization of new industries at a faster pace.

The first day of this Innovation Week event will focus on "Policy and Performance Sharing Day," aimed at enhancing the innovation capacity of zone-based companies and sharing the policy direction and main achievements of the Regulatory Free Zones. The opening ceremony will also feature awards for 27 individuals who have contributed to the development of the Regulatory Free Zones and the revitalization of the regional economy. In addition, a "Regulatory Free Zone Policy Sharing Forum" will be held to present government policies and support measures necessary for zone business operators. Following that, an "Outstanding Case Sharing Session" will highlight three exemplary cases: next-generation battery recycling in North Gyeongsang, digital healthcare in Gangwon, and mobile collaborative robots in Daegu, all of which have successfully completed demonstrations, resolved regulatory barriers, and achieved commercial success.

On the second day, September 1, "Investment and Commercialization Day" will take place to expand investment attraction and business scaling opportunities for zone companies. The "Regulatory Free Zone Investment Attraction Briefing" will introduce the advanced technologies and business models of nine zone-based companies in the bio, artificial intelligence (AI), energy, materials, components, and equipment sectors to venture capital and other investors. Following company business presentations and Q&A sessions, one-on-one meetings between investors and companies will be held to provide concrete investment evaluation and business cooperation opportunities. During the event, various exhibition zones will operate at the Osco venue in Cheongju, including a thematic exhibition on the current status of Regulatory Free Zones and innovation in regulations on new industries and technologies, an inter-regional promotional center, a global cooperation center, a "4-pole, 3-special" promotional center introducing zones by region, and a special exhibition of outstanding technologies and products from zone-based companies.

Seunghwan Mok, Director General for Startup and Venture Innovation at the Ministry of SMEs and Startups, stated, "The Regulatory Free Zone is a key engine for regional development, fostering innovative ideas and entrepreneurship." He added, "The Ministry will continue to make policy efforts so that Regulatory Free Zones can serve as hubs leading the industries of the future."

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