Sejong, May 30 - On May 24, the Ministry of Environment (Minister Han Wha-jin) held a meeting with concerned agencies to discuss deregulation for startup and venture companies in the environmental sector.

Representatives from the Ministry and its affiliated organizations, relevant organizations and associations, and related companies attended the meeting. These included Korea Environment Corporation, Environmental Technology Institute, K-water, KCCI, KBIZ, Korea Venture Business Association, Korea Startup Forum, LG Sciencepark, LD Carbon, and Foodyworm. The purpose of the meeting was to discuss industry challenges related to environmental regulations and work together to find solutions.

The Ministry has taken steps to help startup and venture companies in the environmental sector, including assisting with startup costs, counseling, education, prototype development, and market development. The Ministry is working to solve their difficulties through the regulatory sandbox1 to prevent startup and venture companies introducing environmental technologies from being hindered by environmental regulations. 

The Ministry intends to establish a "Deregulation Committee for Environmental startup and venture companies" to discuss cooperation strategies among concerned agencies regularly. The primary goal of this committee is to support and encourage the growth of startup and venture companies while also gathering suggestions to improve environmental regulations. The first meeting of the committee is scheduled to take place in August.

Lee Chang-heum, Director-General of the Policy Planning Bureau of the Ministry of Environment, said, "Startup and venture companies can offer unique and creative solutions to the environmental challenges we face. This can lead to a decrease in carbon emissions and an increase in renewable energy generation. He also added, "The committee will provide active support to these developing companies, helping them overcome obstacles and continue to grow."

1 System that supports free development and testing for new technologies (i.e., a sandbox) by conditionally lifting regulations

Contact: Lee Sang-hoon, Deputy Director

Legal Affairs and Regulations Reform Division / +82-(0)44-201-6395

Foreign Media Contact: Chun Minjo(Rachel)

+82-(0)44-201-6055 / rachelmchun@korea.kr