This paper suggests an integrated and comprehensive industrial policy framework reflecting various regulatory and industrial policy issues including new industrial paradigm shift such as the 4th Industrial Revolution. The industrial policy framework should cover all the policy ares including not only the exiting industrial policies but also the regulation and innovation strategies from the national economic perspective. In this paper, it is underlined that the regulation and industrial policy should be able to ensure the promotion of industrial innovations by enhancing the interactions among the economic actors. This policy direction must be reinforced by providing the differentiable policy strategies in terms of business scale, tye, life cycle, and so on. Furthermore, it is necessary to establish the self-selective optional policy scheme that can encourage creative and autonomous industrial innovations coming from the private sector. This self-selective policy framework can work well over the policy support platform that can allow the economic actors to exchange the information, technologies, expertise knowledges, consulting, etc, regardless of the positions of policy suppliers and demanders. This policy strategy is the same case in the regulation and industrial policy framework.