Lee Sung-do picked as the most proactive government official
The Office for Government Policy Coordination said on Dec. 24 that it had picked up Lee Sung-do as the most proactive bureaucrat of Korea for the second half of this year.
Lee has been in charge of the regulatory sandbox system, which debuted early 2019 to allow for the relaxation of regulations with the aim of accommodating innovative products and services.
Over the past two years, a total of 364 companies were permitted to go ahead with new businesses under the sandbox format, which would have been otherwise prohibited.
In particular, the 47-year-old official played a pivotal role in establishing the Regulatory Sandbox Support Center this May together with the Korea Chamber of Commerce and Industry (KCCI).
The center is the only legitimate private organization to deal with regulatory sandbox applications, and Korea is the first country in the world to introduce such a system operated by a private outfit.
“While spearheading the sandbox system, Lee greatly contributed to drawing the investment worth up to 980 billion won ($890 million) to new start-ups,” said a representative of the Office for Government Policy Coordination said.
“In particular, he masterminded the launch of the Regulatory Sandbox Support Center.”
Lee said that the Regulatory Sandbox Support Center came as big help to new companies based on the business network of the KCCI.
“In my view, it is difficult for the public sector to understand the needs of entrepreneurs 100 percent. Hence, I thought that we need a communication route operated by the private sector,” Lee said.
“After we overcome the novel coronavirus, the business structure would face prompt transformation. I will support our companies so that more innovative start-ups can spring up in the post-COVID-19 era just like Silicon Valley.”
In the past, Lee headed the Consulate General of the Republic of Korea in San Francisco where Silicon Valley is located.