President Moon has underlined the importance of creating an environment that encourages the development of new technology, in line with South Korea's goal of being the world's most innovative economy.
The president was speaking at a gathering of governors and top officials from 17 districts in the southern port city of Busan on Wednesday.
To achieve this goal, the government announced the same day, a new plan that frees seven cities or provinces from regulations so that companies can test their innovative technologies, ranging from blockchain to automatic driving.
These areas include Busan, Gangwon-do Province, and Sejong City.
With South Korea being the first country in the world to take such measures, President Moon says the steps are necessary to prevent domestic firms from moving their businesses overseas due to strict regulations.