Fostering New Businesses in Regulatory Free Zones
[Asia Economy Reporter Minyoung Cha] LG Uplus announced on the 27th that it held the launch ceremony of the cooperation network 'Sangsaeng Ieum' to promote the development of new industries in regulatory free zones, in collaboration with the Ministry of SMEs and Startups, and signed a business agreement.
About 150 people attended the Sangsaeng Ieum launch ceremony held at Seoul Central Post Office, including Hwang Hyun-sik, CEO of LG Uplus, Lee Young, Minister of SMEs and Startups, Lee Jong-wook, Administrator of the Public Procurement Service, and Oh Gwang-hae, Director of the Standard Policy Bureau at the National Institute of Technology and Standards.
Sangsaeng Ieum, led by the Ministry of SMEs and Startups, is a cooperation network composed of private companies such as LG Uplus, public institutions including the Public Procurement Service and the National Institute of Technology and Standards, and local governments. Sangsaeng Ieum plays a role in organically managing the new industry development plans that local governments designated as regulatory free zones have individually pursued. It plans to share demonstration results and know-how among similar zones and simultaneously work on revising regulations for new industries.
The new industries promoted by Sangsaeng Ieum cover six areas: autonomous driving, non-face-to-face medical treatment, human-derived materials, hydrogen, electric energy, and carbon dioxide resource utilization. LG Uplus will collaborate in the autonomous driving sector.
LG Uplus implemented 5G-based autonomous driving on the Gangbyeonbuk-ro and Olympic-daero, high-speed roads in downtown Seoul, in 2019. Last year, it provided autonomous driving services and infrastructure in Sejong City and Gwangju, regulatory free zones for autonomous driving, and also participated in the '2021 Seoul Smart Mobility Expo' to showcase autonomous driving technology.
LG Uplus plans to complete a roadmap to spread successful business models to later regulatory free zones.
Lee Young, Minister of SMEs and Startups, said, "Previously, each zone pursued demonstration projects individually, but Sangsaeng Ieum will strengthen exchanges and cooperation among zones related to connected industrial fields."
Hwang Hyun-sik, CEO of LG Uplus, stated, "Based on LG Uplus's autonomous driving service experience accumulated in Sejong and Gwangju, we hope the regulatory free zones can take a step forward," adding, "LG Uplus will also do its best to make effective services using autonomous driving technology together with small and medium enterprises."
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