Micro-Operating Mechanism Approach for Regulatory Sandbox Policy Focused on Fintech

HaeOk Choi and KwangHo Lee
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HaeOk Choi: Science and Technology Policy Institute, 508 Building B, Sejong National Research Complex 370, Sicheng-daero, Sejong 30147, Korea
KwangHo Lee: Science and Technology Policy Institute, 508 Building B, Sejong National Research Complex 370, Sicheng-daero, Sejong 30147, Korea

Sustainability, 2020, vol. 12, issue 19, 1-11

Abstract: To determine the micro-operating mechanism(MoM) of enterprises participating in the regulatory sandbox policy in fintech, this study analyzes the structure of enterprise innovation competencies and derives relevant implications. The results reveal that large, middle-standing, and small and medium-sized enterprises focus on security, infrastructure, and user-related technology development, respectively, to enhance their innovation competencies. The security-related issues considered by large enterprises entail relatively high costs in initial technology development and are closely related to infrastructure building. Large enterprises are focused on developing overall security-related technologies, whereas middle-standing enterprises are striving to develop infrastructure-related technologies, with particular emphasis on elementary technologies. Small and medium-sized enterprises are also making efforts to develop user-centered technologies that can directly be used in fintech. As a method to implement regulatory sandboxes tailored to the needs of participating enterprises in South Korea, this study will help to determine the MoM of such participants and establish strategies to support them sustainably in terms of evidence-based policy.

Keywords: MoM(micro-operating mechanism); regulatory sandbox; fintech; type by enterprise; innovation competencies; patents data; evidence-based policy (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2020
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