Like a sandbox where children play freely, the Industrial Convergence Regulatory Sandbox is a system that allows new business and new technology to be tested and verified by suspending regulations within a limited environment.
Grounded in the Industrial Convergence Promotion Act, it supports faster market launch of new products·services by exempting all or part of current regulations, or by improving regulations through reasonable procedures.
When business is impossible or unclear under existing legal frameworks, the regulatory sandbox becomes the only official legal path to start operations.
