With our expertise in sectors of the Fourth Industrial Revolution, we provide consulting services and legal advice for companies applying for the regulatory sandbox. In particular, we help the National Information and Communication Industry Promotion Agency (NIPA), a public institution under the Ministry of Science and ICT in charge of ICT regulatory sandbox affairs, provide legal support for companies applying for ICT regulatory sandboxes.
In this fourth industrial revolution, the integration of technologies and services in various areas (artificial intelligence (AI), fifth-generation mobile network (5G), IoT, mobility, Health Care, and FinTech) is growing rapidly. These new technologies are largely based on newly emerging business models, bringing innovation and large ripple effects to society. However, enactment and revision of regulatory rules are slower than the speed of technological developments. Thus, it is difficult for the existing laws to regulate the operation of new businesses.
The regulatory sandbox system is designed to provide companies a way to test the utility, safety, and effectiveness of new technologies and services within a controlled environment, especially if (1) there are no standards, specifications, or requirements for new technologies/services that require permits in existing laws and regulations (2) it impossible for new technologies and services to apply for permission under existing laws and regulations, (3) it is unclear or unfeasible to apply standards, specifications, and requirements to new technologies/services in accordance with existing laws and regulations. For a more detailed description of the sandbox, please visit https://www.sandbox.or.kr/
To successfully conduct business within regulatory sandboxes, companies need the help of experts who have a deep understanding of the sandbox system and extensive legal knowledge of the business world. Our lawyers at D’LIGHT have substantial expertise in every growing sector of the Fourth Industrial Revolution. Our lawyers have the highest level of understanding, even operating our own ICT regulatory sandbox projects, and thus are able to provide consulting and legal consulting for sandbox applicants to successfully obtain temporary permits.
Key Business Contents
주요 업무 내용
• Consult on applications for Information Communication Convergence (Ministry of Science and Technology), Industrial Convergence (Ministry of Industry and Energy), and Innovation Finance (Financial Services Commission)
• Consult on applying for sandboxes (Blockchain, healthcare, autonomous driving, etc.) under the Regional Special Zones Act
• Consult on legal regulations applied during the commercialization of technology and services
• Consult on preparing regulatory sandbox applications
• Advising on the company’s overall business model