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Gov't to Ease 65 Regulations to Stimulate Development of Products, Services

Written: 2018-10-31 16:31:40Updated: 2018-10-31 16:33:18

Gov't to Ease 65 Regulations to Stimulate Development of Products, Services

Photo : YONHAP News

The government will ease 65 additional regulations to stimulate development of innovative products and services in emerging sectors.

The deregulation will include allowing the test flying of newly developed light-weight aircraft such as manned drones. New road pavement materials, including polymers that are considered to prevent hydroplaning and reduce noise and fine dust will be permitted, while LED lights will be used to mark traffic lanes.

Prime Minister Lee Nak-yon said during a meeting on Wednesday that the government decided to remove 65 regulations blocking the market release of new products and services as a proactive move ahead of enforcement of so-called "regulatory sandbox" laws in January. 

The regulatory sandbox is a system that offers a wavier for a set amount of time to businesses to test out innovative products, services and business models in the market.

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