Completion of 3 Regulatory Improvements and 4 Temporary Permits in Regulatory Free Zones

[Financial News] The government announced on the 22nd that it held the 16th Regulatory Free Zone Committee in writing and deliberated and decided on follow-up measures for regulatory exemptions and changes to already designated zones. 
Regulatory Free Zones are a system that allows for the demonstration of new technologies and industries by granting regulatory exemptions to specific regions for a certain period after consultation with the relevant regulatory departments to foster promising innovative and strategic new businesses in the region.
The government lifted the designation of the Jeonbuk Eco-friendly Vehicle Zone (2 demonstrations) early, based on the demonstration projects within the zone as a follow-up measure of the special exemption of this committee.
Additionally, the temporary permit project of the Chungnam Hydrogen Energy Conversion Zone was terminated. Thanks to regulatory improvements, Jeonbuk's eco-friendly cars and Chungnam's hydrogen energy projects can accelerate the commercialization and full market entry of new eco-friendly energy technologies and products.
In the Gyeongbuk Smart Green Logistics Zone (2 demonstrations) and Chungbuk Green Hydrogen Industry Zone (2 demonstrations), safety verification has been completed, and regulatory improvements will be carried out in earnest through temporary permits.
Furthermore, the committee reviewed important changes such as changes in subsidiary conditions, changes in zone operators, and relocation of zone locations for the four previously designated zones. The Ministry of SMEs and Startups plans to announce the results of the committee's discussions in the official gazette within this week.

stand@fnnews.com Seo Ji-yoon Reporter