Ministry of SMEs and Startups

The Ministry of SMEs and Startups held the ‘Regulation-Free Special Zone Challenge’ on Sep. 2, a competition for commercialization ideas based on demonstration projects to revitalize start-ups and support the innovative growth of promising startups in the Regulation-Free Special Zone. Since the enforcement of the Act, 28 special zones have been designated in 14 cities and provinces, leading the Korean version of the New Deal as a forward base for nurturing new industries in the region. This competition was designed to discover more diverse services by adding innovative ideas of start-up companies and to attract excellent companies to the special zone.