South Korea will ease regulations on drones, self-driving vehicles and the biotech sector in a move to seek new industries that could help fuel new economic growth.

At a meeting presided by President Park Geun-hye on Wednesday, a panel composed of senior officials in charge of deregulation finalized a plan to ease regulations on drones, self-driving cars, the Internet of Things (IoT), and clouding as well as biotech and healthcare industries. Under the plan, parcel delivery services using drones and driving autonomous vehicles in downtown areas would be possible in Korea within this year. It was the government’s fifth round of top-level deregulation meeting after the first meeting was held in March 2014 as part of efforts to revitalize the economy.

The government has decided to lift regulations on these sectors similar to or looser than the rules in advanced countries such as the United States and the European Union. In particular, the Korean government would allow all types of drone-related businesses unless it sees such businesses threatening to the safety and security of the people. This means that parcel delivery services, entertainment performances, advertisements and a wide range of services using drone technology would be legal in the country. The same rule will be applied to the self-driving car, allowing its test runs on most roads across the nation unless it harms public safety. Should ultra-small electric vehicles like the Twizy of Renault Samsung Motors Co. meet the safety requirements of foreign countries, they would be allowed to run on local roads.

The government also plans to raise the electromagnetic wave standard by 20 times from the current level to establish the world’s first nationwide network reserved for IoT services earlier than expected and revise regulations on physical server-network separation to expand cloud services to the private sector. Rules on the use of satellite-based location data will be eased, too.

In addition, the government plans to form a special team that could foster the development of bio healthcare products.

By Nam Gi-hyun, Cho Si-young

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]