Ministry of Industry Announces Call for Projects on Regulatory Special Cases and New Industry Creation

Fostering New Industries Through R&D
with the Regulatory Sandbox Program

The Ministry of Trade, Industry and Energy will open applications for projects eligible for support under the 'Regulatory Sandbox New Industry Creation' program on the 10th.

This program, newly established this year, aims to expand the achievements of the regulatory sandbox by supporting the development of innovative core materials and components, as well as the commercialization of products and services, among projects that have conducted the world's first or Korea's first demonstrations. The regulatory sandbox is a system that allows businesses to launch new products and services using new technologies in the market first under certain conditions (limitations on period, location, and scale) for testing and verification by exempting them from all or part of existing regulations.

Any institution (including companies) that has received approval from six regulatory sandboxes across all ministries and conducted demonstrations, as well as the industrial convergence sandbox under the jurisdiction of the Ministry of Trade, Industry and Energy, can apply for the project. To increase the success rate of technology development and commercialization, applications can also be submitted as a consortium with technology-holding universities, research institutes, and other approved institutions.

If the participating institution has secured private investment in advance, support will be provided for up to 3 years with a maximum of 800 million KRW per year; if private investment has not been secured, support will be provided for up to 2 years with the same annual limit. Even if the participating institution has not secured private investment in advance, additional support for up to 1 year may be possible through evaluation if investment is successfully attracted during the project period.

Detailed project announcement information can be found on the Ministry of Trade, Industry and Energy’s website, and institutions wishing to participate should submit their applications online through the Pan-Ministry Integrated Research Support System by the 20th of next month. The Ministry will also hold a project briefing session at the Korea Technology Center on the 19th to provide detailed information about the project announcement.