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Daejon to apply for Regulation Free Special District

Daejeon city announced on January 30 that it will apply for "Regulation Free Special District" driven by the Ministry of SMEs and Startups.

According to the city, a working-level committee will be set up in Daejeon Technopark to conduct a detailed survey to identify regulations, gather opinions and submit an application for Regulation-Free Special District approval.

Once designated as the special district, regulation exemptions would be applied, along with tax benefits and financing support, to boost companies' activities on new technology and new business.

The city held a seminar on Regulation-Free Special Districts with 1,000 local businesspeople attended at Daejeon Convention Center on January 29.

A city official said "we will apply for Regulation Free Special District to minimize any regulatory restrictions on business and contribute to revitalizing region's innovative growth and economy."

Source Text

** This article was translated from Korean.

Source: Newsis (January 30, 2019)