Songdo-young, Representative Lawyer, On-site Discussion to Support Virtual Convergence Industries through Regulatory Innovation

Law firm Veat’s Songdo-young representative lawyer attended the ‘Consultation Meeting for Supporting Virtual Convergence Industries through Regulatory Innovation’ held with the Ministry of Science and ICT and private experts, and exchanged opinions on presentations regarding various institutional difficulties experienced while pursuing business in the industrial sector and regulatory improvements through provisional standards.

This consultation meeting is a follow-up measure for ‘Creating an Innovative Virtual Convergence Industry Ecosystem’ announced at the ‘Korea Metaverse Festival’ on the 17th, and was prepared to discuss supporting virtual convergence industries through regulatory innovation.

Virtual convergence world (metaverse) companies operating in various industrial sectors such as medical care, education, and manufacturing also attended this consultation meeting, presented institutional difficulties experienced in the business promotion process in each industrial sector, and requested regulatory improvements through provisional standards. In addition, the participants in the consultation meeting emphasized the need for discovering and promoting suitable leading cases for the application of provisional standards and cooperation between relevant ministries, and shared various opinions on the importance of spreading the provisional standard system through successful cases.

Law firm Veat’s Songdo-young representative lawyer has participated since the early stages of the bill for the “Act on Promotion of Virtual Convergence Industry,” which was enacted following the release of the “Virtual Convergence Economic Development Strategy” in 2020. He has also been appointed as a member of the Metaverse Self-Regulatory Committee to establish the self-regulatory system for the metaverse industry, and has been active as a leader in regulatory innovation in areas such as ICT convergence, metaverse, AR/VR, smart cities, and mobility regulatory sandbox. He has been selected for the ‘Leading Lawyers 2024’ TMT (Technology, Media & Telecommunications) sector, recognized for his deep expertise in key areas such as personal information, games & esports, blockchain, and e-commerce, which have expanded to include AI in the advancement of the 4th Industrial Revolution.

Law firm Veat is positioned as a leader in various emerging industries and regulatory innovation areas such as virtual convergence world (metaverse), ICT regulatory sandbox, mobility regulation, and smart cities, and provides comprehensive legal advice centered on reviewing metaverse-related business models, protecting intellectual property rights, and resolving personal information and security issues.

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Law firm Veat